RAFAEL ENRIQUE KODESH ALEGRIA is currently employed as a Broker and/or Investment Adviser at ORIENTAL FINANCIAL SERVICES CORP. located at 997 SAN ROBERTO STREET, ORIENTAL GROUP TOWER 9TH FLOOR, SAN JUAN, PR, 00926.
RAFAEL ENRIQUE KODESH ALEGRIA has worked at ORIENTAL FINANCIAL SERVICES CORP. since November 28, 1997
Disclosure History
RAFAEL ENRIQUE KODESH ALEGRIA has 5 Disclosure Event(s).
Date: November 03, 2017 Category: Customer Dispute Allegations: Customer alleges misrepresentations and omissions, breach of fiduciary duty, breach of contract,, unsuitable investment recommendations, failure to supervise, fraud, negligence, violation of FINRA rules (including NASD), violation of federal securities laws, and violation of the Puerto Rico Uniform Securities Act related to PR bonds/funds Damage Amount Requested: $500,000.00 Broker Comment: KODESH-I deny all allegations in this claim. I have never been the advisor of [Customer Name] account at Oriental. Furthermore I do not know [Customer Name] and do not recall ever having any contact with her.
Date: July 12, 2017 Category: Customer Dispute Allegations: Time: 5/14/2010 to 6/28/2017. Customer allege OFS recommended high risk and unsuitable investments. Damage Amount Requested: $750,000.00
Date: July 06, 2017 Category: Customer Dispute Allegations: Customer allege high risk and unsuitable closed-end funds and opened-end invested. Damage Amount Requested: $250,000.00
Date: August 29, 2016 Category: Customer Dispute Allegations: Customer claims recommendation was negligent and unsuitable and cause severe losses Damage Amount Requested: $838,896.00 Broker Comment: I strongly denied all the allegations. When account initially opened client transferred positions from UBS and when he deposited new funds he specifically solicited positions that were from PR in order to avoid paying taxes from income generated and for his estate to avoid paying taxes. In numerous occasions client was offered alternative investments outside of PR, but client declined for reasons previously mentioned. At the time of purchase, all investments were deemed suitable and all of the PR bonds purchased were investment grade or better at the time of purchase. Customer was explained all risks associated with investments in his account and transactions were authorized by client. In numerous occasions conversations were had with client discussing PR situation and client agreed to hold on to positions.
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