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 of Puerto Rico Bond Funds.
Both attorneys, with vast experience in investment fraud decided to join forces and appeared today at Puerto Rico’s Convention Center to “get justice for all those Puerto Rican investors that trusted their brokers and have lost millions of dollars in Puerto Rico Bond Funds. We will become their advocates in this matter by representing them in our efforts to recover their losses”, indicated Zamansky and López Adames.
“This certainly is as Hurricane Katrina but on the financial side. Puerto Ricans relied on their financial advisors at UBS Puerto Rico, Merill Lynch, Banco Santander and Oppenheimer, among others, who misrepresented information, and made unsuitable recommendations in the sale of bonds and bond funds in Puerto Rico”, explained Zamansky.
“Our investigation reveals that UBS and other firms piled investors funds into highly leveraged bond funds in Puerto Rico and encouraged their brokers to have investors borrow even more money to invest in those funds. The reality is that these were high risk investments which have destroyed the retirement and life savings of thousands”, mentioned López Adames.
During the press conference, both attorneys announced that client meetings would continue around the island. They stand ready to file individual and group FINRA arbitration cases on behalf of investors that have suffered investment losses. If you or someone you know needs orientation or assistance with this matter, please join us this upcoming Friday, October 18 at 10:00 AM in Aguadilla at “El Faro’s Guesthouse” or on Thursday, October 24 at 10:00 AM at Ponce Hilton to meet the Attorneys.