RedFlags, Allegations and Complaints against EDWARD NELSON PORTELLES
Disclosure #1 for EDWARD PORTELLES
- eventDate: 3/1/2006
- Disclosure Type: Criminal
- Disclosure Resolution: Final Disposition
- Disclosure Detail :: criminalCharges :: Charges: ONE COUNT – FELONY FRAUD BY WIRE, RADIO, OR TELEVISION (CONSPIRACY TO COMMIT WIRE FRAUD) – PLEAD NOT GUILTY ONE COUNT – FELONY FRAUD BY WIRE, RADIO OR TELEVISION – PLEAD NOT GUILTY ONE COUNT – MISDEMEANOR BLACKMAIL – PLEAD GUILTY
- Charge Type: FELONY
- Disposition: THE TWO FELONY CHARGES WERE DISMISSED. I PLEAD GUILTY TO THE MISDEMEANOR CHARGE. I PAID $1,025 IN FINES ON 06/15/07. I HAVE TO COMPLETE ONE YEAR OF PROBATION WHICH STARTED ON 5/4/07.
- Broker Comment: I PLEAD GUILTY TO THE MISDEMEANOR CHARGE TO AVOID FURTHER LITIGATION COSTS. I AGREED TO PLEAD GUILTY TO BLACKMAIL AS IT IS NOT ONE OF THE SEVEN MISDEMEANORS THAT PRODUCE A STATUTORY DISQUALIFICATION BY THE NASD. I ENTERED INTO A BUSINESS VENTURE WITH A CLOSE PERSONAL FRIEND IN LATE 2001. THE BUSINESS FAILED AND WAS INVESTIGATED BY THE FEDERAL GOVERMENT AFTER A CREDITOR, A LARGE TELECOMMUNICATIONS CARRIER, COMPLAINED TO THE GOVERMENT. ULTIMATELY, ALL FELONY CHARGES WERE DISMISSED ON THE GOVERMENT’S MOTION. AT THE BEGINNING OF THIS JOINT VENTURE, MY PARTNER AND I AGREED TO SHARE EXPENSES AND PROFITS. DURING THE COURSE OF THIS JOINT VENTURE, I RELIED ON MY PARTNER AND FOLLOWED HIS INSTRUCTIONS WHEN NEGOTITATING AND ENTERING INTO AN AGREEMENT WITH A TELECOMMUNICATIONS CARRIER. AS A RESULT OF THOSE INSTRUCTIONS ,AND MY RELIANCE ON THOSE INSTRUCTIONS, MY ACTIONS CAME UNDER SCRUTINY OF LAW ENFORCEMENT. AFTER THIS OCCURED ,I ASKED MY PARTNER TO ASSIST IN THE PAYMENT OF MY ATTORNEY’S FEES. I WAS CHARGED WITH AND PLEAD GUILTY TO A MISDEMEANOR FOR ASKING MY PARTNER TO PAY MY ATTORNEY’S FEES IN EXCHANGE FOR NOT INFORMING LAW ENFORCEMENT THAT HE HAD PARTICIPATED IN A FRAUDLENT SCHEME. I PLEAD GUILTY TO THE MISDEMEANOR TO AVOID FURTHER LITIGATION COSTS. THERE WAS NO ALLEGATION OR EVIDENCE THAT I, IN FACT, OBTAINED ANY FUNDS. THERE WAS NOT EVEN AN ALLEGATION THAT I WAS NOT ENTITLED TO ATTORNEY’S FEES,IE. THAT THIS WOULD HAVE BEEN A WRONGFUL OBTAINING OF MONEY. IN FACT, I WAS ENTITLED TO RECOVER MONEY FROM MY PARTNER. SIGNIFICANTLY, THE DISTRICT COURT JUDGE REFERRED TO THIS MATTER AS AN ELEVATED COMMERCIAL DISPUTE AT SENTENCING.
Should I file a FINRA complaint against brokers like EDWARD NELSON PORTELLES?
Many investors (presumably, like yourself) are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who lost money in this fashion may actually be entitled to damages. You may suffer significant losses at the hands of your financial advisors’ misconduct, such as if they misrepresented or failed to disclose the risks associated with a particular investment, recommended frequent trades for the sole purpose of generating commissions, or used high-pressure tactics to make a sale. The rules and regulations of securities laws and FINRA policies are complex, and investment loss claims require an extensive understanding of securities arbitration to achieve the best possible results.
Update – 2022.11.15If you have suffered investment losses that may have been caused by EDWARD NELSON PORTELLES’s negligence or fraud, contact a FINRA lawyer today. Most FINRA lawyers work on a contingency fee basis, meaning that you will not be charged for their services unless they successfully collect money for you. Kindly add a comment, or contact us directly if you have any query, or want to be contacted by a FINRA lawyer today!
Frequently Asked Questions About EDWARD NELSON PORTELLES
What is EDWARD PORTELLES’s Central Registration Depository (CRD) Number?
Which firm is EDWARD NELSON PORTELLES associated with?
ALEXANDER CAPITAL, L.P.
Where is EDWARD PORTELLES located?
17 STATE STREET, NEW YORK, NY, 10004
Where can I find more details about EDWARD PORTELLES’s Investment Firm?
Visit https://brokercheck.finra.org/firm/summary/40077 to read a detailed report for ALEXANDER CAPITAL, L.P.
Are there any disclosures, allegations or complaints filed against EDWARD NELSON PORTELLES?
Where can I download a detailed FINRA report for EDWARD PORTELLES?
Is it safe to do business with EDWARD NELSON PORTELLES?
We’re not sure. Please research EDWARD PORTELLES’s disclosures, allegations and complaints before taking a decision
Originally reported on November 15, 2022 @ 11:34 pm
The views and opinions expressed in these articles are those of the source BrokerAudit.com and do not necessarily reflect the official position of ‘Skeptic Files’, which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.
This article is syndicated automatically through a third-party agency from BrokerAudit.com.
To view the original article at BrokerAudit.com, you can visit https://www.brokeraudit.com/edward-nelson-portelles-alexander-capital-l-p/.