Erez Law is currently investigating Oppenheimer & Co. Inc. broker Gustavo Miramontes (CRD# 2338966), who faces multiple customer complaints related to unsuitable investment recommendations. He has been registered with Oppenheimer & Co. Inc. in Los Angeles, California, since 2018.
In May 1994, he was terminated from Kimco Services following allegations of theft and misdemeanor stolen property.
Gustavo Miramontes Customer Complaints
He has been the subject of 11 customer complaints between 2008 and 2023, one of which was denied, according to his CRD report. The most recent complaints were regarding:
September 2023. “Claimant asserts claims for breach of fiduciary duty, churning, negligence, negligent misrepresentation, falsifying account documentation, unauthorized trading as well as violations of FINRA rules and state securities laws. 01/2019 – 06/2023.” The customer is seeking $151,477 in damages, and the case is currently pending.
December 2021. “Client alleges that unauthorized transactions took place in their account, and that investments were unsuitable. No time period specified, but investments took place between July 2019 – November 2021.” The complaint took place while he was registered with Oppenheimer & Co. Inc., and it was regarding mutual funds and common and preferred stocks.
December 2021. “Client alleges that unauthorized transactions took place in their account, and that investments were unsuitable. no time period specified, but investments took place between July 2019 – November 2021.” The customer sought $11,000 in damages, and the case was settled for $8,149. The complaint took place while he was registered with Oppenheimer & Co. Inc., and it was regarding mutual funds and common and preferred stocks.
December 2021. “Client alleges that unauthorized transactions took place in their account, and that investments were unsuitable. no time period specified, but investments took place between July 2019 – November 2021.” The case was settled for $7,957. The complaint took place while he was registered with Oppenheimer & Co. Inc., and it was regarding mutual funds and common and preferred stocks.
December 2021. “Client alleges that unauthorized transactions took place in their account, and that investments were unsuitable. Period is October 2018 through 11/30/2021.” The customer sought $25,739.42 in damages, and the case was settled for $8,222. The complaint took place while he was registered with Oppenheimer & Co. Inc., and it was regarding mutual funds and common and preferred stocks.
November 2021. “Client alleges that unauthorized transactions took place in their account, and that investments were unsuitable. Time period is September 2018 to present.” The customer sought $18,409.78 in damages, and the case was settled for $7,981.
April 2019. “Client demanding that a trade should be rescinded due to the former financial advisor misrepresenting the facts surrounding the bond purchased on 6/4/2018.” The customer sought $24,302.83 in damages, and the case was settled for $24,302.83. The complaint took place while he was registered with Wedbush Securities Inc., and it was regarding bond losses.
November 2018. “Client alleges she did not authorize certain bond transactions which took place in her account. she believes these transactions were not suitable for her risk profile.” The case was settled for $431,401.45. The complaint took place while he was registered with Wedbush Securities Inc., and it was regarding municipal bond losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Oppenheimer & Co. Inc. may be liable for investment or other losses suffered by Gustavo Miramontes’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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