Advisor Alert: Our Attorneys Are Investigating Gustavo Santos Miramontes For Investment Fraud

Chetan Patil on February 16, 2024

Did You Lose Money Because of Gustavo Miramontes?

Filed: February 15, 2024

Gustavo Miramontes currently has one (1) pending customer complaint. Overall, he has been the subject of eleven (11) customer complaints, one (1) criminal event, one (1) termination event, and one (1) financial event. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.

Let’s begin our Patil Law Advisor Alert with a summary report on Gustavo Santos Miramontes.

Who Is Gustavo Santos Miramontes of Oppenheimer & Co. Inc.?

  • Advisor Name: Gustavo Santos Miramontes
  • Aliases: Gustavo S Miramontes
  • CRD: 2338966
  • Location: Los Angeles, California
  • Current Employer: Oppenheimer & Co. Inc.
  • Previous Firms: Wedbush Securities Inc. and Wells Fargo Advisors, LLC
  • Number of Known Customer Complaints: 11
  • Can Gustavo Miramontes Be Sued: Yes, in Private Arbitration
  • Can Gustavo Miramontes’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
  • Highest Damages Allegation: $381,942
  • Highest Settlement: $431,401.45

If you have suffered investment losses by Gustavo Miramontes, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.

Customer Complaints Filed Against Gustavo Miramontes For Broker Misconduct

As of this publication date, Gustavo Miramontes has been the subject of 11 customer disputes, 1 termination event, 1 criminal event, and 1 financial event. Let’s review them below.

In September 2023, a FINRA arbitration was filed against or in reference to Gustavo Miramontes by a customer of Oppenheimer & Co. Inc. alleging breach of fiduciary duty, churning, negligence, negligent misrepresentation, falsifying account documentation, unauthorized trading as well as violations of FINRA rules and state securities laws. Per the customer, he/she lost over $151,477 because of Mr. Miramontes’s actions.

In December 2021, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Oppenheimer & Co. Inc. alleging that unauthorized transactions took place in the client’s account, and that investments were unsuitable. On October 14, 2022, Mr. Miramontes settled the claim for $7,558.

In December 2021, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Oppenheimer & Co. Inc. alleging that unauthorized transactions took place in the client’s account, and that investments were unsuitable. Per the customer, he/she lost over $11,000 because of Mr. Miramontes’s actions. On October 14, 2022, Mr. Miramontes settled the claim for $8,149.

In December 2021, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Oppenheimer & Co. Inc. alleging that unauthorized transactions took place in the client’s account, and that investments were unsuitable. Per the customer, he/she lost over $25,739.42  because of Mr. Miramontes’s actions. On October 14, 2022, Mr. Miramontes settled the claim for $8,222.

In December 2021, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Oppenheimer & Co. Inc. alleging that unauthorized transactions took place in the client’s account, and that investments were unsuitable. On October 14, 2022, Mr. Miramontes settled the claim for $7,957.

In November 2021, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Oppenheimer & Co. Inc. alleging that unauthorized transactions took place in the client’s account, and that investments were unsuitable. Per the customer, he/she lost over $18,409.78  because of Mr. Miramontes’s actions. On October 14, 2022, Mr. Miramontes settled the claim for $7,981.

In April 2019, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Wedbush Securities Inc. alleging misrepresentation of the facts surrounding the bond purchased on 6/4/2018. Per the customer, he/she lost over $24,302.83 because of Mr. Miramontes’s actions. On May 24, 2019, Mr. Miramontes settled the claim for $24,302.83, and some or all of this amount may have been paid by Mr. Miramontes’s employer and/or insurance carrier.

In November 2018, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Wedbush Securities Inc. alleging that the client did not authorize certain bond transactions which took place in her account. The client believes these transactions were not suitable for her risk profile. On December 31, 2018, Mr. Miramontes settled the claim for $431,401.45, and some or all of this amount may have been paid by Mr. Miramontes’s employer and/or insurance carrier.

In October 2016, Gustavo Miramontes filed for bankruptcy at the US Bankruptcy Court for the Central District of California.

In August 2011, a complaint was filed against or in reference to Gustavo Miramontes by a customer of Wells Fargo Advisors, LLC alleging that Mr. Miramontes purchased mutual funds without the client’s prior approval. The customer further alleges that the monthly income the funds would provide was misrepresented. On September 29, 2011, Mr. Miramontes settled the claim for $6,500, and some or all of this amount may have been paid by Mr. Miramontes’s employer and/or insurance carrier.

In December 2009, a FINRA arbitration was filed against or in reference to Gustavo Miramontes by a customer of Southwest Securities, Inc. alleging negligence, failure to supervise- FINRA Rule 3010, unsuitable recommendations- FINRA rule 2310, misrepresentation, fraud, breach of fiduciary duty, violation of the securities exchange act of 1934; California corporation code 25400, et seq’ and California code of regulations, violation of FINRA rule 2110 standards of commercial honor and principals of trade from December 2006 through February 2009. Per the customer, he/she lost over $381,942 because of Mr. Miramontes’s actions. On June 14, 2010, Mr. Miramontes settled the claim for $180,000, and some or all of this amount may have been paid by Mr. Miramontes’s employer and/or insurance carrier.

In November 2008, a complaint was filed against or in reference to Gustavo Miramontes by a customer of M.L. Stern & Co., Inc. alleging that the client told Mr. Miramontes that he only wanted investments that were short term with principal guaranteed. The client purchased CMOS in 2003 and 2004 and sold them unsolicited in July 2007 prior to maturity at a loss. Per the customer, he lost over $10,000 because of Mr. Miramontes’s actions.

In October 1994, misdemeanor charges were pressed against Mr. Miramontes in the Harbor Municipal Court for theft.

In May 1994, Kimco Services terminated Gustavo Miramontes for alleged theft.

How To File A Claim Against Gustavo Miramontes of Oppenheimer & Co. Inc. (previously with Wedbush Securities Inc. and Wells Fargo Advisors, LLC) To Get Your Money Back

If you have questions about Gustavo Miramontes, Oppenheimer & Co. Inc., Wedbush Securities Inc., Wells Fargo Advisors, LLC, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.