Did You Lose Money Because of Ray Velasco?
Filed: November 29, 2023
Ray Velasco (also known as Raymond Alagao Velasco, Sr.) has been the subject of one (1) regulatory event, one (1) termination event, and one (1) customer complaint. 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 Raymond Alagao Velasco, Sr..
Who Is Raymond Alagao Velasco, Sr.?
- Advisor Name: Raymond Alagao Velasco, Sr.
- Aliases: Ray Velasco, Raymond Alagao Velasco Mr., Raymond Alagao Velasco, Raymond Velasco
- CRD: 4867519
- Location: Lisle, Illinois
- Current Employer: Currently Not Registered
- Previous Firms: LPL Financial LLC, Metlife Securities, Inc., and Metropolitan Life Insurance Company
- Number of Known Customer Complaints: 1
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Can Raymond Velasco, Sr. Be Sued: Yes, in Private Arbitration
- Can Raymond Velasco, Sr.’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: Unknown
- Highest Settlement: Unknown
If you have suffered investment losses by Raymond Velasco, Sr., we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud 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 Ray Velasco For Broker Misconduct
As of this publication date, Raymond Velasco, Sr. has been the subject of 1 regulatory event, 1 termination event, and 1 customer dispute. Let’s review them below.
In April 2021, FINRA initiated a regulatory action against or in reference to Raymond Velasco, Sr. Without admitting or denying the findings, Velasco consented to the sanctions and to the entry of findings that he submitted to his former member firm four termination letters that falsely represented that his customers were separated from their employment, inducing the firm holding the customers’ retirement accounts into waiving approximately $10,000 in surrender fees.
In January 2020, a complaint was filed against or in reference to Raymond Velasco, Sr. by a customer of Metlife Securities Inc. alleging that beginning in or around 2014, Mr. Velasco replaced the client’s existing life policy with a new variable universal life policy without his knowledge, stating that the rep had him sign forms that he didn’t understand, thereby deceiving him.
In June 2019, LPL Financial LLC terminated Raymond Velasco, Sr. for submitting inaccurate retirement plan documents to an annuity company resulting in the client avoiding surrender fee.
How To File A Claim Against Ray Velasco (previously with LPL Financial LLC, Metlife Securities, Inc., and Metropolitan Life Insurance Company) To Get Your Money Back.
If you have questions about Raymond Velasco, Sr., LPL Financial LLC, Metlife Securities, Inc., Metropolitan Life Insurance Company, 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.
