{"id":4117,"date":"2017-01-14T13:33:45","date_gmt":"2017-01-14T19:33:45","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4117"},"modified":"2022-04-04T12:47:15","modified_gmt":"2022-04-04T17:47:15","slug":"ubs-ordered-pay-another-18m-puerto-rico-bond-fraud-case","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-ordered-pay-another-18m-puerto-rico-bond-fraud-case\/","title":{"rendered":"UBS Ordered to Pay Another $18M in Puerto Rico Bond Fraud Case"},"content":{"rendered":"

A few weeks after a FINRA arbitration panel ordered UBS (UBS) to pay $18 million in a Puerto Rico bond fraud case, the firm has been ordered to pay another customer a large amount in a similar municipal bond claim. In this latest ruling, the Gomez family claimed they lost $22.87 million from investing in Puerto Rico securities. UBS Puerto Rico (UBS-PR) brokers had purportedly suggested the Gomez family invest in Puerto Rico bonds despite the fact that they wanted investments that were safe. The family relied on the funds from their investments to cover their living expenses.<\/p>\n

UBS argued that Mr. Gomez was an experienced investor. The firm claimed that when Gomez opted to concentrate his portfolio in Puerto Rico bonds, he knew what he was doing.<\/p>\n

The FINRA panel disagreed with UBS\u2019s assessment, awarding the Gomez family almost $20 million in cash and refusing to enforce almost $6 million is loans the Gomez family owed to UBS. The securities arbitration award to the Gomezes includes $4 million in punitive damages.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A few weeks after a FINRA arbitration panel ordered UBS (UBS) to pay $18 million in a Puerto Rico bond fraud case, the firm has been ordered to pay another customer a large amount in a similar municipal bond claim. In this latest ruling, the Gomez family claimed they lost $22.87 million from investing in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3922,4039,3755],"tags":[],"class_list":["post-4117","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-municipal-bonds","category-puerto-rico-bond-funds","category-ubs"],"yoast_head":"\nUBS Ordered to Pay Another $18M in Puerto Rico Bond Fraud Case — Investor Lawyers Blog — January 14, 2017<\/title>\n<meta name=\"description\" content=\"A few weeks after a FINRA arbitration panel ordered UBS (UBS) to pay $18 million in a Puerto Rico bond fraud case, the firm has been ordered to pay — January 14, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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