Did you suffer investment losses as a result of your dealings with former Wells Fargo Advisor Alejandro Ariel Torres? If so, The White Law Group may be able to help recoup some of your investment losses.

According to Bank Investment Consultant, the Financial Industry Regulatory Authority (FINRA) has expelled Mr. Torres from the securities industry for allegedly stealing nearly $60,000 from a 64-year-old widow.

Allegedly Mr. Torres approached the widowed client with a purported partnership opportunity in his start-up venture, Towers Investments. According to FINRA, the widow gave Mr. Torres a check for $75,000 which he deposited into an account opened for the start-up. Mr. Torres had exclusive access to the account, and allegedly used at least $59,600 to pay for personal expenses, including a BMW car. To conceal his misconduct Mr. Torres had arranged to have all bank statements for the Towers Investments account sent to him and not the client.

According to Bank Investment Consultant, Mr. Torres received the check in December 2013 while employed at Wells Fargo. However, he was emplyoed by Global Strategic Investments when he allegedly began converting the funds.

Mr. Torres’s BrokerCheck reports indicates he was employed by Edward Jones from 03/2011 – 11/2009, StateTrust Investments from 11/2009 – 02/2010, BB&T Investment Services from 02/2010 -01/2013, Wells Fargo Advisors from 01/2013 – 01/2014, and Global Strategic Investments from 01/2014 – 07/2014.

In addition to a permanent bar from the securities industry, Mr. Torres was ordered to repay the money he spent.

Brokerage firms have a responsibility to effectively monitor the business activity of their employes. When brokers solicit clients in investment opportunities not authorized by the firm, the act can be considered “selling away.” If it is demonstrated that a broker has been “selling away,” the brokerage firm may still be liable for negligent supervision and responsible for investment losses.

If you were a client of Alejandro Ariel Torres and have concerns about your investments, please call the securities attorney of The White Law Group at (312) 238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.