Former Baton Rouge, Louisiana-based LPL Financial broker Patrick Coogan (CRD# 4576580) has been barred by the Financial Industry Regulatory Authority...Read More
John Torres: Complaints Against Woodland Hills Financial Advisor
Settled and pending complaints against former Woodland Hills, California broker and investment advisor John Torres (CRD#: 6322231) allege conduct including misappropriation and misrepresentation. Torres is a former representative of JP Morgan Securities who has been barred from associating with Financial Industry Regulatory Authority (FINRA) member firms, according to information drawn from FINRA records.
A pending March 2019 complaint alleges that as a representative of JP Morgan Securities, John Torres opened a bank account in the name of a third party business that solicited the claimants to invest in a product that the firm did not recommend or solicit; the complaint further alleges that after the funds were deposited into that account, they were misappropriated by the third parties. The complaint alleges damages of $860,000.
A 2019 order by FINRA sanctioned John Torres in connection to allegations he failed to respond to a request for information. He was indefinitely barred from association with any FINRA member firm in any capacity.
A pending 2018 complaint alleges that as a representative of JP Morgan, John Torres made misrepresentations and aided and abetted the theft of funds entrusted to a customer. The complaint alleges damages of $1,603,200.
John Torres’s disclosure records also list one employment separation: specifically, his 2018 discharge from JP Morgan Chase Bank over allegations he opened an affiliate bank account for a customer after that bank’s global security department instructed him not to do so, as well as allegations that he “provided inaccurate affiliate bank account information to [a] non-account holder.”
John Torres is currently not registered as a broker or investment advisor. His employment history includes JP Morgan Securities in Woodland Hills, California, where he was registered from 2014 until 2018. He currently holds zero state licenses and has passed three securities industry qualification examinations.