The Law Firm of David Chase is reviewing allegations of outside business activity and unsuitable recommendations by former Vanguard Capital (CRD #22081) broker John A. Blake-Zuniga (CRD #1014886) after FINRA suspended him for 22 months.
According to Blake-Zuniga’s FINRA BrokerCheck report, FINRA suspended him for 22 months after issuing sanctions related to allegations that he borrowed funds in the amount of $775,000 from two of his clients’ accounts. Complaints also allege that Blake-Zuniga inappropriately recommended over 1200 transactions in inverse and inverse leveraged ETF’s, without a reasonable basis.
In August 2011, FINRA leveled a fine of $5,000 against Blake-Zuniga for failing to promptly disclose outside business activity. Prior to joining Vanguard Capital, Blake-Zuniga formed his own company. He reported his involvement as a passive investor with no day to day involvement. However, after joining Vanguard Capital, Blake-Zuniga became a director and CEO of the Company. He failed to report this change as to statues promptly as required by NASD rules 2110 & 3030.
During his time at Vanguard, Blake-Zuniga was involved in a wide range of outside business activities. This included involvement in multiple payday loan companies and running a consulting firm that advised payday loan operations. Outside business activities also included a 1-800 marketing number and serving as the CFO for a medical website.
Blake-Zuniga was employed for 17 years by Vanguard Capital (CRD #22081). Blake-Zuniga was based out of the Irvine, California branch of Vanguard Capital.
FINRA requires brokers and other registered persons to reports his or her outside business activities under FINRA Rule 3270. The member brokerage firm will then consider whether the outside business activity will interfere or compromise the broker’s responsibilities to the firm and his or her customers and whether or not the outside business will be viewed by the public as part of the member brokerage firm’s business.
FINRA arbitration is a fast, efficient way to recover your lost investments due to stock broker misconduct. We work on a contingency fee basis, meaning you pay us nothing unless we recover money for you.
If you have invested with John A. Blake Zuniga and Vanguard Capital and have lost money doing so, you may be able to recover some or all of your losses. My law firm is experienced in recovering investor losses due to broker and brokerage firm misconduct through FINRA arbitration.
The Law Firm Of David R. Chase represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact David Chase