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Most investors clamor for investments that generate a high yield, particularly when they have been pitched as safe and secure municipal bonds. Many investors at UBS and other firms were delighted to hear their financial advisors tell them that the Puerto Rican bonds and closed-end bond funds that they recommended […]
Puerto Rico, a US territory, is teetering on the edge of financial collapse. The Island’s plight is reminiscent of the 2008 collapse of Lehman Brothers, whose bankruptcy filing led US regulators to examine similar banks who were considered “too big to fail.” Unlike Lehman or the City of Detroit, which […]
We have been blogging about Puerto Rican municipal bonds over the last several weeks. The situation for mom and pop investors and retirees in Puerto Rico is dire, to say the least. Our concern has been that brokers at UBS and other firms recommended an over concentration in UBS Puerto […]
When a UBS Puerto Rico bond investor looks at their account these days, if they have the courage to do so, they are probably staring at losses over the past two months of 50% to 60%. And it could get a lot worse. At least one ratings agency, Fitch, is […]
Puerto Rico’s economy and bond ratings are starting to resemble those of Detroit and Greece. Larry Summers, the former Treasury Secretary last week called Puerto Rico’s bonds “the junkiest of the junk”. The question, burned UBS retail bond investors are asking is, how did this happen? Look no further than […]
How on earth could trusted, so-called UBS “financial advisors” recommend that conservative and retired investors in Puerto Rico fill their accounts with Muni Bonds which have near junk ratings? That’s the call the firm made for conservative investors, and it’s shocking to hear what has happened to thousands of trusting […]
The big boys at UBS are probably popping bottles of bubbly today to celebrate what appears to be a big legal victory for the firm. An administrative law judge for the Securities and Exchange Commission ruled on Tuesday that the SEC failed to prove that two high-ranking UBS Puerto Rico […]
The federal government is now putting under its microscope mutual fund companies that have invested billions of dollars in Puerto Rican municipal debt, according to several news reports last week. As this blog has noted over the past several weeks, the storm of losses created by Puerto Rican municipal securities […]
Zamansky LLC files its first arbitration against UBS Financial Services Inc. of Puerto Rico on behalf of a customer over alleged losses in its closed end funds, including the Puerto Rico Fixed Income Fund, the Puerto Rican Tax Free Fund, the Puerto Rico Bond Investors Fund and other funds. The […]
SAN JUAN, P.R. – The prominent investment fraud firm, led by attorney Jacob H. Zamansky and experienced Puerto Rican investment fraud attorney, Marie Elsie López Adames reached out to hundreds of Puerto Ricans who have suffered millions of dollars in losses by unsuitable investment recommendations and misrepresentation in the sale […]