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Denuncian Fraude de Compañía UBS

Video Transcript

FEMALE SPEAKER: Given the bond sales performed under the consultancy of UBS and other agencies in Puerto Rico, the law firm Zamansky, specialized in investments frauds, has offered a conference in the Mario Hotel of Aguadilla about the money losses that Puerto Rican investors have had.

The law firm, managed by lawyer Jacob Zamansky and Lic. Marie Elsie López, pointed out that consulting agencies such as UBS Puerto Rico, Banco Santander and Oppenheimer, have allegedly tampered on information, resulting in bad consulting and fraudulent sales. The lawyers said that most of their clients are retired persons that have been deceived.

FEMALE LAWYER: "Then we prepare a lawsuit, we state the basic facts of what corresponds to each investor. Once the lawsuit is filed, the other party responds and presents their allegations. When both documents are filed, an arbitration panel is gathered. In most cases, they are three arbitrators who will rule the lawsuit. The procedure of proof is basically an exchange of documents, at which end the hearing is performed. They usually choose a hotel in the metropolitan area, where the arbitrators come, the parties present their cases. The hearing takes 3 or 4 days, and in 2 or 3 weeks an arbitration award is issued.

FEMALE SPEAKER: The Zamansky firm will keep on offering conferences all around the island. For local news, Luis Pérez and Jacqueline Martínez.