MANUEL JOSE GARRIDO PORTELA is currently employed as a Broker and/or Investment Adviser at ORIENTAL FINANCIAL SERVICES CORP. located at AVE. MAGDALENA #1408, SAN JUAN, PR, 00907.
MANUEL JOSE GARRIDO PORTELA has worked at ORIENTAL FINANCIAL SERVICES CORP. since September 25, 1997
Disclosure History
MANUEL JOSE GARRIDO PORTELA has 3 Disclosure Event(s).
Date: March 02, 2018 Category: Customer Dispute Allegations: CLIENT ALLEGES CONCENTRATION IN PR INVESTMENTS, UNSUITABLE,FAIL TO DISCUSS,BREACH FID DUTY,NEGLIGENCE,FRAUD, BREACH OF CONTRACT Damage Amount Requested: $3,000,000.00
Date: November 04, 2014 Category: Customer Dispute Allegations: CUSTOMER ALLEGES UNSUITABLE OVER-CONCENTRATION OF THEIR BROKERAGE ACCOUNT IN PUERTO RICAN LEVERAGED BOND FUNDS, FAILED TO FULLY DISCLOSE THE SERIOUS RISKS ASSOCIATED WITH THE BOND FUNDS INCLUDING INTERNAL LEVERAGE AND LACK OF LIQUIDITY AND FAILED TO DIVERSIFY AND REDUCE THEIR RISK AND EXPOSURE AS THE PUERTO RICAN ECONOMY SUFFERED A SEVERE DOWNTURN AND ITS CREDIT RATINGS COLLAPSED. Damage Amount Requested: $220,000.00 Settlement Amount: $3,000.00
Date: March 28, 2012 Category: Customer Dispute Allegations: CUSTOMER CLAIMS OVER CONCENTRATING ACCOUNT AND UNSUITABLE INVESTMENT WHICH RESULTED IN THE COMPLETE LOSS OF THE INVESTED FUNDS. Damage Amount Requested: $100,000.00 Broker Comment: REGISTERED REP ALLEGED THAT THE CUSTOMER REQUESTED THIS TYPE OF INVESTMENT. ALSO, THE CUSTOMER HAD KNOWLEDGE AND WAS INFORMED ALL TIME ABOUT THE PERFORMANCE OF HIS ACCOUNT.
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