{"id":18235,"date":"2019-09-03T14:22:16","date_gmt":"2019-09-03T19:22:16","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=18235"},"modified":"2019-09-16T14:24:01","modified_gmt":"2019-09-16T19:24:01","slug":"ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/","title":{"rendered":"UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud"},"content":{"rendered":"<p>Two different groups of investors were recently awarded nearly $9.3 million in their respective <a href=\"https:\/\/www.investorlawyers.com\" target=\"_blank\" rel=\"noopener noreferrer\">Puerto Rico bond fraud claims<\/a> against UBS Financial Services (UBS). These are just the latest <a href=\"http:\/\/finra.org\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Industry Regulatory Authority (FINRA)<\/a> arbitration claims where the Swiss giant and its Puerto Rico-based brokerage firm have been ordered to pay customers after selling over $10 billion of closed-end funds that were heavily invested in the island\u2019s municipal debt. To date, UBS has paid hundreds-of-millions-of-dollars to investors in either arbitration awards or settlements.<\/p>\n<p>In one of these latest <a href=\"https:\/\/www.investorlawyers.com\" target=\"_blank\" rel=\"noopener noreferrer\">Puerto Rico investor fraud cases<\/a>, the claimants are three investors and their related businesses and trusts. The customer claimants contend that UBS violated FINRA\u2019s rules and the U.S. territory\u2019s securities laws, as well as committed other fraudulent acts. Now, the FINRA arbitration panel has awarded them $4.25 million in compensatory damages, interest, and $170,000 for costs.<\/p>\n<p>In the other Puerto Rico bond fraud claim, the claimants were customers alleging constructive fraud, common law fraud, breach of fiduciary duty, negligent misrepresentation, negligent supervision, breach of contract, and fraudulent concealment. The FINRA arbitration panel awarded them $4.8 million in damages.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/\"  title=\"Continue Reading UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Two different groups of investors were recently awarded nearly $9.3 million in their respective Puerto Rico bond fraud claims against UBS Financial Services (UBS). These are just the latest Financial Industry Regulatory Authority (FINRA) arbitration claims where the Swiss giant and its Puerto Rico-based brokerage firm have been ordered to pay customers after selling over [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3953,3739,4051,4056],"tags":[3000,3070],"class_list":["post-18235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arbitration-rulings","category-finra","category-puerto-rico-debt-crisis","category-puerto-rico-ubs-bond","tag-ubs","tag-ubs-puerto-rico"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud | SSEK Law Firm<\/title>\n<meta name=\"description\" content=\"Two different groups of investors were recently awarded nearly $9.3 million in their respective Puerto Rico bond fraud claims against UBS.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud | SSEK Law Firm\" \/>\n<meta name=\"twitter:description\" content=\"Two different groups of investors were recently awarded nearly $9.3 million in their respective Puerto Rico bond fraud claims against UBS.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/justice-bw-overlay.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud | SSEK Law Firm","description":"Two different groups of investors were recently awarded nearly $9.3 million in their respective Puerto Rico bond fraud claims against UBS.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/","twitter_card":"summary_large_image","twitter_title":"UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud | SSEK Law Firm","twitter_description":"Two different groups of investors were recently awarded nearly $9.3 million in their respective Puerto Rico bond fraud claims against UBS.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/justice-bw-overlay.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud","datePublished":"2019-09-03T19:22:16+00:00","dateModified":"2019-09-16T19:24:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/"},"wordCount":571,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/justice-bw-overlay.jpg","keywords":["UBS","UBS Puerto Rico"],"articleSection":["Arbitration Rulings","FINRA","Puerto Rico Debt Crisis","Puerto Rico UBS Bond"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/","url":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/","name":"UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud | SSEK Law Firm","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/justice-bw-overlay.jpg","datePublished":"2019-09-03T19:22:16+00:00","dateModified":"2019-09-16T19:24:01+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Two different groups of investors were recently awarded nearly $9.3 million in their respective Puerto Rico bond fraud claims against UBS.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/justice-bw-overlay.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/05\/justice-bw-overlay.jpg","width":640,"height":427,"caption":""},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-to-pay-9-3m-for-puerto-rico-bond-fraud\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"UBS Ordered to Pay $9.3M for Puerto Rico Bond Fraud"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; 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