SEC Charges German Nino, a Financial Advisor in Weston, Florida, With Stealing $5.8 Million



A German guy named “Nino” is accused of stealing $5.8 million from an investing client over the course of 6 years. According to the SEC‘s complaint, Nino spent a significant amount of the loot on presents for the ladies with whom he had intimate relationships.

A customer who had dealt with Nino while he was at UBS Bank filed a $2 million theft claim against him in July of 2020, according to the Brockercheck report from FINRA. A settlement of around $6 million was reached for the client.

Info about German Nino, a Financial Advisor at Weston

The SEC has filed a complaint against German Nino, but what are the specific charges?
Here is the opening paragraph from the SEC‘s formal complaint against German Nino, a financial advisor in Weston, Florida:

The following are the allegations made by the plaintiff Securities and Exchange Commission (“Commission”):

Broker-dealer and investment adviser UBS Financial Services Inc. (“UBS”) employed German Nino (“Nino”) as a registered representative and investment advisor representative. This case involves a multi-year fraud committed by Nino. Nino stole over $5.8 million from a long-term advice client between May 2014 and February 2020.

Second, Nino told his customer that he would invest their money in stocks, but he actually spent it on himself and the ladies with whom he was having an intimate relationship (mostly on gifts and travel and living expenses). Some of the money Nino stole was used to make good on an earlier debt to another customer.

Third, to cover up his deceit, Nino made and gave the client fake account statements that falsely represented the customer’s investment portfolio and related balances. To further avoid the customer being alerted to wire transfers made out of one of the client’s accounts, Nino tampered with UBS’s records. Nino falsified the customer’s signature on letters of authorization to complete larger fraudulent transfers.

Many anti-fraud provisions of federal securities laws were directly violated by Nino’s actions here, as will be shown later. The Commission wants Nino to pay civil penalties, disgorgement, prejudgment interest, and injunctive relief.

If you or a loved one has lost money after putting it in the hands of German Nino (CRD# 2653707), you can reach out to Sonn Law Group at any moment to talk about your legal options.

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