UBS Puerto Rico Bond Funds Investor Story
The finances of many residents of Puerto Rico were devastated by the losses that took place in UBS closed end Puerto Rico bond funds. Many retirees, near retirees and other conservative clients sustained massive losses in mutual funds that were pitched as conservative or at least less volatile than the stock market. The New York Post recently profiled the case of a Harlem educator who lost $400,000 in the UBS Puerto Rico funds. Vivian Falto alleges in a FINRA arbitration claim her life has been turned into a “financial hell” and she was promised the bonds were “secure and there was no risk.”
Sound familiar? Unfortunately, these sorts of representations were made to most of our clients who are now suing UBS for Puerto Rico related investment losses. The impact of these losses have proven too much for some investors to handle. Fortunately, despite the recent freeze on UBS related Puerto Rico FIRNA cases, investors with securities fraud claims against UBS and Merrill Lynch can attempt to recoup those losses through the FINRA arbitration process. To learn more please see www.InvestmentFraud.pro
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