Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims against advisor Ian M. Deliz Morales (Deliz), formerly registered with Morgan Stanley out of Tampa, Florida. According to a BrokerCheck report, Deliz has been subject to at least 22 customer disputes, 13 of which are still pending. In addition, Deliz disclosed a $169,324 tax lien against him. According to records kept by The Financial Industry Regulatory Authority (FINRA), the majority of these disputes concern violations of securities laws regarding unsuitable investments of Puerto Rico bonds and closed-end funds.
Most recently, in June 2019, a client alleged that Deliz violated the securities laws by recommending unsuitable investments in Puerto Rico bonds causing $315,000 in damages. This dispute is currently still pending.
In July 2017 a customer filed a complaint alleging that Deliz made unsuitable recommendations to hold Puerto Rico bonds in an over-concentrated manner. The complaint alleged $1 million in damages and was settled for $275,000.