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Jaime Casellas, Formerly With Santander Securities LLC, Has 79 Customer Complaints For Alleged Broker Misconduct

Who is Jaime Casellas formerly of Santander Securities LLC?

Jaime Casellas (CRD #2338369) who was formerly registered with Santander Securities LLC and located in San Juan, Puerto Rico, is a subject of one of our many securities industry sales practice abuse investigations.  Prior to Santander Securities LLC, Jaime Casellas was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Jaime Casellas Customer Complaints

Jaime Casellas has been the subject of 79 customer complaints that we know about to recover investment losses related to the offer and sale of Puerto Rico municipal bonds and closed-end bond funds. Two of the customer complaints resulted in arbitration awards in favor of the investors. Seventy of the customer complaints was settled in favor of the investors. Seven of the customer complaints were denied by Santander Securities and UBS Financial Services and the customer took no further action.

Allegations Against Jaime Casellas

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:

  • Breach of fiduciary duty, negligence, fraud, related to Puerto Rico closed-end funds.
  • Overconcentration and unsuitable recommendations related to closed-end bond funds.
  • Negligence in violation of industry standards related to municipal bonds and closed-end funds.
  • Unsuitability, overconcentration, violations of securities laws and rules, fraud, breach of fiduciary duty and negligence related to Puerto Rico bonds and closed-end funds.

Jaime Casellas Red Flags & Your Rights As An Investor

Of course, Jaime Casellas did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Jaime Casellas at Santander Securities LLC on alert to review carefully the activity and performance of their accounts and question whether Jaime Casellas has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Santander Securities LLC also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Santander Securities LLC Due To Jaime Casellas

If you have questions about Santander Securities LLC and/or Jaime Casellas and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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