Florida Broker Barred by FINRA and Ordered to Pay Restitution to a 64 Year-Old Widow

POMPANO BEACH, Fla. - July 22, 2015 - PRLog -- Alejandro Ariel Torres (CRD #5631211, Hollywood, Florida) was barred by FINRA and ordered to pay $59,600 plus interest in a deferred restitution to his client.

FINRA states that allegedly between January and July of 2014, Torres used at least $59,600 of a client's investment for his own personal benefit.  While Torres was a broker with Wells Fargo, he began a 50/50 partnership investment in his startup venture, Towers Investments LLC, with a 64-year-old widow. The widow wrote Torres a $75,000 check as a capital investment which Torres allegedly deposited into a Towers checking account he controlled, and used at least $59,600 which was not related to Towers' business. According to FINRA, Torres arranged for the Towers Investments' bank account statements to be sent directly to him, rather than the client, in order to conceal his misconduct.

According to FINRA's BrokerCheck, Alejandro Torres was previously registered with the following firms:

01/2014 - 07/2014  GLOBAL STRATEGIC INVESTMENTS, LLC (CRD# 117028) - MIAMI, FL
01/2013 - 01/2014  WELLS FARGO ADVISORS, LLC (CRD# 19616) - HOLLYWOOD, FL
02/2010 - 01/2013  BB&T INVESTMENT SERVICES, INC. (CRD# 33856) - AVENTURA, FL
11/2009 - 02/2010  STATETRUST INVESTMENTS INC. (CRD# 104651) - MIAMI, FL
03/2009 - 11/2009  EDWARD JONES (CRD# 250) - DAVIE, FL

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