Robert Escobio, previously with Southern Trust Securities, Barred by FINRA
Have you lost money with financial advisor Robert Escobio? We are continuing to look into allegations made by FINRA. FINRA (the Financial Industry Regulatory Authority) barred him from the securities industry. FINRA alleged that he failed to respond to its investigation. FINRA was investigating him after he was barred by the CFTC for engaging in a fraudulent commodities scheme.
Robert Juan Escobio was a financial advisor and registered representative of Southern Trust Securities from 2000 to July 2017. He worked in branch offices in Miami, Florida. He has been the subject of five customer complaints.
Brokerage firms like Southern Trust Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including Florida. Attorney David Neuman is licensed to practice law in Florida. Our attorneys have represented over one thousand investors against many brokerage firms in the past.