The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker John Torres. According to his publicly available FINRA BrokerCheck report, John Torres has been the subject of multiple customer complaints.
John Torres was a California based securities broker. He worked in the securities industry for four years. He spent his entire career registered with J.P. Morgan. He is no longer working as a registered securities broker in any fashion.
The Allegations
- He received two complaints in September 2018. In both complaints a company (non-customer entity) alleged that Torres aided and abetted theft of its funds in addition to misrepresentation. Both complaints are currently pending. The claimant in the first case is seeking $22 million. The claimant in the second case is seeking $1.6 million.
- In March 2019, it was alleged by customers of John Torres that he allegedly opened a bank account in the name of a third-party business and then deposited the customers’ funds in the account. The funds in the account were then misappropriated by the business. This case is currently pending. The customers are seeking $860,000 in damages.
The above mentioned complaints are both connected to each other in which there were multiple victims of misappropriation that took place due John Torres’ alleged negligence.
Oakes & Fosher Can Help
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with John Torres, please contact Oakes & Fosher for a free and private consultation.
