Investor Alert: FINRA filed Complaint against Wilfredo Felix for falsifying books and records
/FINRA Sanctions & Allegations of Misconduct
According to his CRD Report, Primex Prime Electronic Execution, Inc. dba Primex (CRD #29394) and Wilfredo Felix Jr. (CRD #2693672) in North Amityville, New York falsified its books and records by misclassifying hundreds of thousands of dollars of his personal expenses as business expenses of the firm on its general ledger and in other of its books and records and caused the firm to file inaccurate quarterly Financial and Operational Combined Uniform Single (FOCUS) reports that significantly understated the amount of compensation paid to him and overstated the firm’s other expenses. Felix provided a false or misleading response by testifying that the reclassification occurred because the firm changed from a C corp. to an S corp and failed to produce documents and information requested by FINRA that were material to its investigation of the firm and Felix.
Investors Have the Right to Recover Their Losses
When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.
Can I recover my investment losses?
If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Wilfredo Felix or Primex Prime Electronic Execution, Inc, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies, and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.