National investment loss lawyers KlaymanToskes is investigating barred broker Manuel Melendez Gonzalez (CRD# 4648278) formerly of UBS Financial Services Inc and Herbert J. Sims & Co. Inc.
According to FINRA BrokerCheck, broker Manuel Melendez Gonzalez, formerly of UBS Financial Services Inc. has been permanently barred from acting as a broker by FINRA. Melendez consented to the sanction and to the entry of findings that he borrowed $738,000 from two customers of his member firm through four separate loans without providing prior written notice to or obtaining written approval from the firm.
Investors that suffered losses with broker Manuel Melendez Gonzalez are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Former UBS financial advisor Manuel Melendez Gonzalez borrowed a total of $738,000 from two firm customers—one of whom was a senior investor—through four separate loans without notifying or receiving approval from his firm. He failed to repay any portion of the loans.
According to FINRA, Melendez used thousands of dollars from the senior customer’s loan to fund personal expenses, including cruises, airfare, and retail purchases—none of which were authorized. He used money from the second customer, intended for business investments, to instead cover expenses for his unrelated billboard advertising company.
FINRA also found that Melendez falsely attested on compliance questionnaires that he had not borrowed from any firm clients. Additionally, he failed to disclose and seek approval for outside business activities (OBAs), including efforts to acquire both an ice cream business and a sign company using customer funds. His firm disclosures falsely claimed no customer involvement, despite documented evidence that he had financed the ventures with client money.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Manuel Melendez Gonzalez, or have concerns regarding your investment portfolio at UBS Financial Services Inc, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.