Last Updated: December 2024 (El Paso, TX)
Hugo Hernandez Investigation Summary
Here’s What You Need to Know About El Paso, TX Stockbroker Hugo Hernandez:
- Name: Hugo Hernandez
- Current Employer: Not currently registered
- Prior Employers:
- MML Investors Services, LLC (2017–2024)
- NYLIFE Securities LLC (2015–2017)
- Function: Stockbroker / Financial Advisor
- Aliases: Hugo Hernandez
- Primary Location: El Paso, TX
- CRD Number: 6446187
- Can Hugo Hernandez Be Sued in FINRA Arbitration: Yes
- Terminated by prior employer: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $29,550
If you’ve sustained damages from Mr. Hernandez, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Hugo Hernandez as Your Stockbroker?
A customer of MML Investors Services, LLC settled a dispute for $29,550 in October 2024. The customer alleged that Mr. Hernandez misappropriated investment funds. Specifically, the customer reported providing Mr. Hernandez with $20,000 for an alternative investment with the promise of a 15% return within 90 days. However, the customer stated that as of June 2024, the funds had not been returned, and checks he received from Hernandez totaling $23,000 had bounced.
Mr. Hernandez was discharged from MML Investors Services, LLC on July 16, 2024, following allegations of engaging in prohibited loans, participating in unapproved private securities transactions, and failing to disclose outside business activities.
Investigations involving Theft and Misappropriation of Customer Funds
See FINRA Rule 3240 Borrowing From or Lending to Customers
Allegations of Broker Misconduct Against Hugo Hernandez
A customer and an employer have alleged the following misconduct against Hugo Hernandez:
- Misappropriation of Funds: Alleged misuse of $20,000 for alternative investment purposes without returning the promised returns.
- Bounced Checks: Issued checks totaling $23,000 that were not honored, leading to claims of financial harm.
- Prohibited Loans: Engaged in unauthorized loans with clients and potential clients.
- Unapproved Securities Transactions: Participated in private securities transactions not disclosed or approved by his firm.
- Undisclosed Outside Business Activities: Failed to report outside sales and related activities.
Relevant FINRA rules such as FINRA Rule 3270 (Outside Business Activities of Registered Persons) and FINRA Rule 3280 (Private Securities Transactions of an Associated Person) apply to these allegations.
Recover Your Investment Losses Now With Rex Securities Law
Investigations of Other MML Investors Services brokers
If you have suffered investment losses in an account handled by Hugo Hernandez, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.