INVESTORS: Former LPL Financial broker David Del Rio was barred by FINRA following a failure to respond to FINRA’s request for information.
David Del Rio (CRD: 4771963) was registered as a broker with LPL Financial, where was employed from 2017 until 2018. Del Rio was previously registered as a broker with SunTrust Investment Services from 2014 until 2017.
Del Rio has six disclosures on his BrokerCheck report. One customer dispute filed against Del Rio was denied.
June 2022 Customer Dispute
Allegations: Claimant alleges that during the approximate time period 2014-2018, representative engaged in selling away and that representative used client funds for his own personal benefit.
January 2020 Regulatory Judgment
Initiated By: FINRA
Allegations: Respondent Del Rio failed to respond to FINRA request for information.
Bar: Bar (Permanent)
Registration Capacities Affected: All Capacities
Start Date: 5/4/2020
Regulator Statement: Pursuant to FINRA Rule 9552(h) and in accordance with FINRA’s Notice of Suspension and Suspension from Association letters dated January 30, 2020 and February 24, 2020, respectively, on May 4, 2020, Del Rio is barred from association with any FINRA member in all capacities. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.
October 2018 Criminal Charge
Status: Pending Charge
Charges: Exploitation of an Elderly Person or Disabled Adult
Charges: Organized Scheme to Defraud
Charges: Fraudulent Use of Personal Identification Information
Charges: Grand Theft
Charges: Money Laundering
September 2018 Investigation
Initiated By: State of Florida
Description of Investigation: On or around 9/15/2018, firm became aware that a Probable Cause Affidavit was filed in Palm Beach County Circuit Criminal Court alleging the following offenses: 2 counts felony Exploitation of the Elderly, 2 counts felony Money Laundering $100K or more, 1 count felony Organized Scheme to Defraud 50K or more, 6 counts Fraudulent Use of Personal ID over $5K, 1 count Fraudulent Use of Personal ID over $50K, 10 counts felony Grand Theft 65 or older $10K or more, 6 counts felony Grand Theft 65 or older $50K or more
August 2008 Customer Dispute
Allegations: Allegations and brief summary, including dates: Complainant alleged that his FA, Del Rio, mistakenly informed him that he would receive a 15% return on a Prudential Insurance Co. (PIC) annuity, and as a result, complainant surrendered his Jackson National Insurance Company (JNIC) annuity at a cost of $5,500. Complainant alleged that after surrendering his JNLC annuity, he learned that he did not qualify for the PIC annuity, and therefore has sustained a loss of $5,500.
Damage Amount Requested: $5,500.00
Settlement Amount: $5,648.77
The Sonn Law Group is currently investigating allegations surrounding David Del Rio. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.