ADOLFO CIVIDANES FREIRIA is currently employed as a Broker and/or Investment Adviser at RD CAPITAL GROUP, INC. located at MCS PLAZA SUITE 305, 255 AVE. PONCE DE LEON, SAN JUAN, PR, 00917-1903.
ADOLFO CIVIDANES FREIRIA has worked at RD CAPITAL GROUP, INC. since September 29, 2005
Disclosure History
ADOLFO CIVIDANES FREIRIA has 7 Disclosure Event(s).
Date: April 01, 2015 Category: Customer Dispute Allegations: THE COMPLAINT ALLEGES THAT MR. CIVIDANES COMMITTED FRAUD BY WITHDRAWING FUNDS IN THE AMOUNT OF $448,772.00 FROM AN ACCOUNT ON WHICH BOTH [CUSTOMER] [FAMILY MEMBER] AND HIS SON, [FAMILY MEMBER] WERE SIGNATORIES. THE ALLEGATION STATES THAT, THOUGH MR. CIVIDANES HAD [FAMILY MEMBER'S] CONSENT TO WITHDRAW FUNDS FROM THE ACCOUNT, HE DID NOT HAVE [CUSTOMER'S]CONSENT. THE COMPLAINT FURTHER ALLEGES THAT INCOME TAXES WERE NOT WITHHELD FROM THE ACCOUNTS OF MESSRS. [CUSTOMER] AND [FAMILY MEMBER]. BETWEEN 2007 AND 2012. Damage Amount Requested: $448,772.00 Broker Comment: THE ACCOUNTS IN QUESTION WERE OPENED IN SEPTEMBER, 1989 WHILE MR. CIVIDANES WAS A REGISTERED REPRESENTATIVE WITH DEAN WITTER REYNOLDS. IN 2007, MORGAN STANLEY ACQUIRED DEAN WITTER REYNOLDS AND TRANSFERRED THE SECURITIES TO THE DIRECT CUSTODY OF THE PRODUCT SPONSOR (ALLSTATE). THESE ACCOUNTS HAVE NEVER BEEN SERVICED OR MAINTAINED BY RD CAPITAL GROUP, INC. THE ALLEGED ACTIVITIES ARE SEPARATE FROM MR. CIVIDANES' ACTIVITIES AND ACCOUNTS SERVICED THROUGH RD CAPITAL GROUP, INC. CLIENTS DULY AUTHORIZED WRITTEN WITHDRAWAL REQUESTS. INVESTMENT HAS ALWAYS BEEN WITH ALLSTATE ANNUITIES. CLIENTS HAVE BEEN NOTIFIED BY IRS THAT MONIES WITHDRAWN FROM ANNUITIES DID NOT PAY TAXES AND HAVE AN OUTSTANDING CLAIM FOR $448,776 FOR BACK TAXES WHICH CURIOUSLY IS THE AMOUNT IN THE ALLEGED COMPLAINT. ALLSTATE, CUSTODIAN OF FUNDS, HANDLED ALL WITHDRAWAL REQUESTS AND DETERMINED THAT THEY WERE IN FULL FORCE AND EFFECT. WE DENY ALL ALLEGATIONS.
Date: July 10, 2006 Category: Customer Dispute Allegations: CUSTOMER CLAIMS THAT HIS ACCOUNT WAS, AMONG OTHER THINGS, MISMANAGED AND CHURNED. MR. CIVIDANES BECAME CUSTOMER'S FINANCIAL ADVISOR IN ABOUT OCTOBER 2003. Damage Amount Requested: $96,648.26 Settlement Amount: $24,500.00 Broker Comment: MR. CIVIDANES WAS THE BROKER OF RECORD AND WAS ASSIGNED ACCOUNT POST ALLEGED IMPROPRIETIES. AS PER INSTRUCTED BY THE SUPERVISOR, NO CONTACT WAS MADE WRITTEN OR VERBAL BETWEEN THE COMPLAINANT AND MR. CIVIDANES AFTER FIRST CONTACT. EVERYTHING HAD TO BE REDIRECTED TO THE SUPERVISOR.IN ORDER TO AVOID THE COST AND UNCERTAINTY OF LITIGATION, MORGAN STANLEY & CO. INCORPORATED AGREED TO PAY CLAIMANT $24,500.00 IN FULL AND FINAL SETTLEMENT OF ANY AND ALL CLAIMS ASSERTED IN THIS COMPLAINT. CLAIMANT DISMISSED ADOLFO CIVIDANES WITH PREJUDICE.
Date: June 17, 2005 Category: Employment Separation After Allegations Firm Name: MORGAN STANLEY DW, INC. Termination Type: Voluntary Resignation Allegations: INVOLVEMENT IN UNAPPROVED OUTSIDE BUSINESS ACTIVITY
Date: February 18, 2005 Category: Customer Dispute Allegations: CUSTOMER ALLEGES THAT, IN 2000, AN INAPPROPRIATE INVESTMENTS WAS RECOMMENDED AND PURCHASED FOR HER ACCOUNT. Damage Amount Requested: $100,000.00 Settlement Amount: $29,000.00 Broker Comment: THE INVESTMENTS SOLD TO THE CLIENT WAS A MORGAN STANLEY PROPRIETARY PRODUCT (ANNUITY AND OR MUTUAL FUNDS) AND KEPT FOR INVESTMENT PURPOSES. AFTER THE MARKET DECLINE OF 2000 AND MORGAN STANLEY'S SETTLEMENTS, INVESTORS FELT COMPELLED TO SEEK DAMAGES. ALL PRODUCTS WERE SOLD WITH THE STRICTEST SENSE OF PROFESSIONALISM AND SUITABILITY STANDARDS. BROKER DID NOT CONTRIBUTE TO ANY SETTLEMENT.IN ORDER TO AVOID THE COST AND UNCERTAINTY OF LITIGATION, MORGAN STANLEY DW, INC. AGREED TO PAY CLAIMANT $29,000.00 IN FULL AND FINAL SETTLEMENT OF ANY AND ALL CLAIMS ASSERTED IN THIS COMPLAINT.
Date: October 03, 2003 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE, INTER ALIA, COMMON LAW AND STATUTORY SECURITIES VIOLATIONS IN CONNECTION WITH TRANSACTIONS FROM 1999. Damage Amount Requested: $750,000.00 Settlement Amount: $300,000.00 Broker Comment: THE INVESTMENTS SOLD TO THIS CLIENT WAS A MORGAN STANLEY PROPRIETARY PRODUCT (ANNUITY AND OR MUTUAL FUNDS) AND KEPT FOR INVESTMENT PURPOSES. AFTER THE MARKET DECLINE OF 2000 AND MORGAN STANLEY'S SETTLEMENTS, INVESTOR FELT COMPELLED TO SEEK DAMAGES. ALL PRODUCTS WERE SOLD WITH THE STRICTEST SENSE OF PROFESSIONALISM AND SUITABILITY STANDARDS. BROKER DID NOT CONTRIBUTE TO ANY SETTLEMENT.
Date: June 25, 2002 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE, INTER ALIA, COMMON LAW, & STATUTORY SECURITIES VIOLATIONS IN CONNECTION WITH TRANSACTIONS FROM MID '99 TO EARLY 2002. Damage Amount Requested: $1,921,680.00 Settlement Amount: $675,000.00 Broker Comment: THE INVESTMENTS SOLD TO THIS CLIENT WAS A MORGAN STANLEY PROPRIETARY PRODUCT (ANNUITY AND OR MUTUAL FUNDS) AND KEPT FOR INVESTMENT PURPOSES. AFTER THE MARKET DECLINE OF 2000 AND MORGAN STANLEY'S SETTLEMENTS, INVESTOR FELT COMPELLED TO SEEK DAMAGES. ALL PRODUCTS WERE SOLD WITH THE STRICTEST SENSE OF PROFESSIONALISM AND SUITABILITY STANDARDS. BROKER DID NOT CONTRIBUTE TO ANY SETTLEMENT.(IN ORDER TO AVOID THE COST AND UNCERTAINTY OF LITIGATION, MORGAN STANLEY DW INC. AGREED TO PAY CLAIMANTS $675,000.00 IN FULL AND FINAL SETTLEMENT OF ANY AND ALL CLAIMS ASSERTED IN THIS ACTION).
Date: October 26, 2001 Category: Customer Dispute Allegations: CUSTOMER ALLEGES FA RECOMMENDED INAPPROPRIATE INVESTMENT. Damage Amount Requested: $1,800,000.00 Settlement Amount: $1,101,099.79 Broker Comment: THE INVESTMENTS SOLD TO THIS CLIENT WAS A MORGAN STANLEY PROPRIETARY PRODUCT (ANNUITY AND OR MUTUAL FUNDS) AND KEPT FOR INVESTMENT PURPOSES. AFTER THE MARKET DECLINE OF 2000 AND MORGAN STALEY'S SETTLEMENTS, INVESTOR FELT COMPELLED TO SEEK DAMAGES. ALL PRODUCTS WERE SOLD WITH THE STRICTEST SENSE OF PROFESSIONALISM AND SUITABILITY STANDARDS. BROKER DID NOT CONTRIBUTE TO ANY SETTLEMENT.
More Information
All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations, regulatory actions, employment terminations, bankruptcy filings and criminal or civil judicial proceedings.
A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
BrokerCheck is the source of the data included in this Report. The data was compiled on June 29, 2018.
To view the full report for ADOLFO CIVIDANES FREIRIA, click here.
The use of BrokerCheck data is subject to the BrokerCheck Terms of Use.
×
Outdated Information
If you discover any errors or outdated information on this Website, please contact us and we will promptly correct such errors or outdated information.
If BrokerCheck® is the source of such errors or outdated information, please contact FINRA at (301) 590-6500.
×
BrokerSearch Removal
Brokersearch.info will not fully remove items from this Website without an applicable court order designating them for removal. Investors rely on the information available on this Website to decide whether to choose or retain a broker or investment adviser.
Upon written request, we may remove certain page(s) from appearing in search engine results using the robots.txt protocol.
When a person searches for your name using Google, Bing, Yahoo! and other search engines the page(s) from Brokersearch.info would not appear in the search results.
Please contact us to learn more about Search Engine Removal.