The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Robert Escobio. According to his publicly available FINRA BrokerCheck report, Robert Escobio has been the subject of a customer dispute and a sanction from the United States Commodity Futures Trading Commission.

Robert Escobio was a Florida based securities broker. He worked in the securities industry for thirty-seven years. During his career, he was registered with eight different securities firms.

His Registrations

  • Bache Halsey Stuart Shields Inc. (1980-1981)
  • Painewebber Incorporated (1981-1984)
  • Dean Witter Reynolds (1984-1985)
  • Prudential Securities Inc. (1985-1991)
  • Smith Barney (1991-1996)
  • Cardinal Capital Management (1996-2000)
  • Brill Securities (2000)
  • Southern Trust Securities (2000-2017)

The Allegations

  • In November 2004, a customer alleged that Robert Escobio churned their account, recommended unsuitable investments, engaged in unauthorized trading, and failed to diversify their portfolio. This case was settled for $30,000 in damages.
  • Robert Escobio was officially sanctioned by the U.S. Commodity Futures Trading Commission in July 2014. The findings in this matter state that Escobio was involved in a trading scheme in which brokers defrauded customers in connection to illegal, off-exchange, financed precious metals. The perpetrating brokers received over $2.6 million from at least 135 customers.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Robert Escobio, please contact Oakes & Fosher for a free and private consultation.