FINRA Bars Former UBS Financial Broker Lorenzo Esteva

Lorenzo Esteva Barred after UBS Fires him.

According to the Financial Industry Regulatory Authority, Miami broker Lorenzo C. Esteva has purportedly been permanently barred from the securities industry. Esteva was reportedly fired earlier this summer for giving clients documents with false account information.

Esteva allegedly failed to produce documents and information that Finra requested about the falsified account statements, resulting in his being barred from the securities industry, according to the settlement. Esteva neither admitted to nor denied any of its findings, according to FINRA.

According to Esteva’s BrokerCheck Report, he was registered with UBS Financial Services from November 2015 until this July. Prior to that, he was affiliated with Merrill Lynch in Miami for 24 years.

His broker report states Lorenzo Esteva “was discharged after he admitted providing a client with documents containing false account information,” “Further investigation found that [he] (i) provided at least one more client with documents containing false account information and (ii) improperly journaled money between unrelated client accounts.”

Further, Esteva has five disclosures listed on his BrokerCheck report including four customer disputes. Allegations include providing false account statements, opening a credit line without permission, misrepresentation, unsuitable investments and unauthorized trading.

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This information, which is publicly available on the Financial Industry Regulatory Authority’s website, has been provided by The White Law Group.

If you have questions or concerns about investments you made with Lorenzo Esteva, the securities attorneys of The White Law Group may be able to help you.  To speak with a securities attorney, please call 888-637-5510.

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

For more information on The White Law Group, and its representation of investors, please visit our website at http://whitesecuritieslaw.com.

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