Miguel Rivera Jr., Formerly of Westpark Capital, Accused of Recommending Unsuitable Investments

Rivera allegedly recommended unsuitable investments to an elderly couple which resulted in significant losses.

miguel-rivera-jr-unsuitable-investmentsMiguel Rivera Jr. (CRD#: 3060928) was registered as a broker with Westpark Capital from 2016 until 2018. Previously, Rivera was registered as a broker with Newport Coast Securities from 2015 until 2016.

Newport Coast Securities has since been expelled by FINRA. Earlier in his career, Rivera was registered as a broker with both Capital Growth Financial and Sterling Financial Investment Group, Inc. Both broker-dealers have since been expelled by FINRA.

A new FINRA complaint has recently been filed against Rivera and his former firm, Westpark Capital, alleging that Rivera recommended unsuitable investments to an elderly couple, who entrusted Rivera with their irreplaceable retirement savings.

Despite the clients’ investment objectives and risk assessment, Rivera invested in risky, speculative investments that eventually resulted in significant losses for the clients. Erez Law, who claimed to have filed the dispute, stated that Rivera purchased the investments without obtaining the clients’ approval, thus engaging in unauthorized trading. 

Rivera has four other disclosures on his BrokerCheck report. 

January 2013 Regulatory Judgment

August 2007 Criminal Disposition

January 1992 Criminal Disposition

October 1990 Criminal Disposition

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Miguel Rivera Jr. 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.