Jorge Luis Alfonso, Formerly with Snowden Account Services, Named in Customer Dispute Alleging Unsuitable Investment Recommendations

INVESTORS: Former Snowden Account Services broker Jorge Luis Alfonso was named in a customer dispute alleging unsuitable investment recommendations.

Jorge Luis Alfonso (CRD#: 4728979) was registered as a broker with Snowden Account Services from 2019 until 2022. Previously, Alfonso was registered as a broker with Infinex Investments from 2016 until 2019.

Alfonso has three disclosures on his BrokerCheck report. One customer dispute filed against Alfonso was closed with no action taken.

September 2021 Customer Dispute

Status: Pending

Allegations: Infinex received the statement of claim back in September, and they said they had 30 days to file. The actual claim (“[REDACTED] as claimant vs Infinex Investments”) does not name any representative but discusses that [REDACTED] brought a dispute in the amount of $50K to $100K plus interest and cost based on unnecessary losses from unsuitable investments. The claim is one of the many related to Northstar Financial Services Bermuda and anyone who suffered losses by the wind down. Northstar had been in business for over 20 years in had a strong reputation in the community up until it a change in ownership. The company was advised back March 26, 2021 that it should be wound down.

Damage Amount Requested: $50,000.00

November 2018 Customer Dispute

Status: Award / Judgment

Allegations: Alfonso was a subject of the customer’s complaint against his member firm and/or other named respondents that asserted the following causes of action: common law fraud; constructive fraud; negligent misrepresentation; breach of fiduciary duty; negligent management; negligent supervision; and fraudulent concealment.

Damage Amount Requested: $4,093,067.00

Broker Comment: I have never managed nor made recommendations over the client’s assets. I also never had discretionary authority nor a discretionary account. The claimant has been working with the defendant for many years, and claimant and defendant were managing the funds in question. I reject all claims made by claimant.

If you have any information about Jorge Luis Alfonso that you would like to share or discuss, please call our firm for a confidential consultation. 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.