October 25, 2022

Ramiro Jose Sugranes and Lina Maria Garcia (Chief Compliance Officer and President of UCB Financial Advisors, Inc.), along with two relief defendants related to Sugranes, must pay $5.7 million for cherry picking investments to divert profitable trades to their family members while saddling other clients with losing trades. Defendants made $4.6 million in unlawful profits on the scheme. Garcia provided Sugranes with UCB’s trading platform login information, which Sugranes used to effectuate the fraud. SEC

Tagged in: Financial and Investment Fraud, Securities Fraud,