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Domingo Gonzalez Deposits Client’s Check into his Personal Account

By July 10, 2018 No Comments

Domingo Gonzalez has worked in the securities industry for three years. During his career he has been employed at two different securities firms. From 2014 to 2017 he worked for One America Securities. From 2017 to 2018 he worked for Park Avenue Securities.

Gonzalez’ FINRA BrokerCheck report shows that he was sanctioned by FINRA in April of 2018. FINRA’s findings state that he converted one of his customer’s funds without the customer’s authorization. Gonzalez recommended to the customer that they liquidate an IRA being held through a third-party entity so that he could then invest the proceeds in a firm account that he would service. The customer followed Gonzalez recommendation and liquidated said IRA for an amount totaling $2,629. The customer endorsed the check and gave it to Gonzalez with the belief that he would deposit it into her firm account. Gonzalez did not deposit the check into her firm account, but rather endorsed the check to himself and deposited in his own personal bank account. Gonzalez used the money to pay for his personal expenses, including paying off credit cards and dining at restaurants. Gonzalez repaid the $2,629 and then the case was settled for another $1,000 in damages. For his actions, FINRA barred Gonzalez from acting as a securities broker in any fashion.

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