Articles Tagged with First Southern

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jaime Santiago Echandi (Santiago Echandi), currently associated with First Southern, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Santiago Echandi recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on March 10, 2022.

Client alleges Overconcentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise (Puerto Rico bonds, open-end funds and closed-end funds). Includes request for rescission, punitive damages, interest, costs, fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Manuel Gonzalez Hinds (Gonzalez Hinds), currently associated with First Southern, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Gonzalez Hinds recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on March 10, 2022.

Client alleges over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise (Puerto Rico bonds, open-end funds and closed-end funds). Includes request for rescission, punitive damages, interest, costs, fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker German Ramirezdearellano (Ramirezdearellano), currently associated with First Southern, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Ramirezdearellano recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,000,000.00 on February 22, 2023.

Client alleges misrepresentations and omissions, failing to perform the proper due diligence, breach of fiduciary duty, breach of contract, failure to act in the “best interest” of the Claimant, failure to supervise, fraud, constructive fraud, negligence and gross negligence, violation of the FINRA rules, violation of the federal securities laws, and violation of the Puerto Rico Uniform Securities Act and Civil Code.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Wilson Colberg Trigo (Colberg Trigo), currently associated with First Southern, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Colberg Trigo recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $400,000.00 on April 29, 2025.

Claimant alleges the investments in Puerto Rico closed-end funds and Puerto Rico municipal bonds were unsuitable, over-concentrated, and misrepresented as safe investments.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Guillermo Machuca (Machuca), currently associated with First Southern, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Machuca recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on October 05, 2023.

Time frame: Unspecified Allegations: Claimant alleges the recommendation to invest in and hold Puerto Rico closed-end funds was unsuitable, and that his account was unsuitably over concentrated in Puerto Rico investments. He also alleges that the risks of investing in and concentration in Puerto Rico investments was misrepresented.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Luis Sanchez (Sanchez), currently associated with First Southern, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Sanchez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on June 10, 2024.

Time frame: Unspecified Allegations: Claimant alleges her investments in Puerto Rico closed-end funds were unsuitable, over-concentrated, and misrepresented as safe investment

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