UNITED STATES SECURITIES AND EXCHANGE COMMISSION

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against German Nino ("Nino" or "Respondent"). The Commission finds that on May 31, 2022, a judgment was entered by consent against Nino permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Advisers Act, in the civil action entitled Securities and Exchange Commission v. German Nino, Civil Action Number 0:22-cv-60162, in the United States District Court for the Southern District of Florida. The Commission's complaint alleged, among other things, that from approximately May 2014 to February 2020, Nino misappropriated approximately $5.8 million from one of his long-standing advisory clients. Nino represented that he would invest all of the client's funds in securities, but instead used some of the funds for personal expenses, namely for gifts and travel and living expenses for women with whom he had romantic relationships. He also used a portion of the client's funds to fully repay another client from whom he had previously misappropriated funds. To conceal his fraud, Nino created and provided the client with fictitious account statements purporting to show the client's investment portfolio and related balances. Nino also manipulated UBS's records to ensure that the client did not receive notifications for wire transfers out of one of the client's accounts. In order to effectuate larger fraudulent transfers, Nino forged the client's signature on letters of authorization.

Order

Bar (Permanent)

association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO

Indefinite

6/27/2022

Participating in any offering of a penny stock

Indefinite

6/27/2022

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Plaintiff Securities and Exchange Commission ("Commission") alleges that this case concerns a multi-year fraud by German Nino ("Nino"), a registered representative and investment adviser representative associated with UBS Financial Services Inc. ("UBS"), a financial services firm dually-registered with the Commission as a broker-dealer and an investment adviser. Between May 2014 and February 2020, Nino stole approximately $5.8 million from a long-standing advisory client. As part of this scheme, Nino represented to the client that he would invest the client's funds in securities, but, instead, Nino used the funds for personal expenses-primarily gifts and travel and living expenses for women with whom he had romantic relationships. Nino also used a portion of the stolen funds to fully repay another client from whom he had previously misappropriated funds. To conceal his fraud, Nino created and provided the client with fictitious account statements purporting to show the client's investment portfolio and related balances, when in fact the accounts had significantly smaller balances. Nino also manipulated UBS's records to ensure that the client did not receive notifications for wire transfers out of one of the client's accounts. To effectuate larger fraudulent transfers, Nino forged the client's signature on letters of authorization. As a result of the conduct described in this Complaint, Nino violated Section 10(b) of the Exchange Act and Rules 10b-5(a), 10b-5(b), and 10b-5(c) thereunder, Sections 17(a)(1), 17(a)(2), and 17(a)(3) of the Securities Act, and Sections 206(1) and 206(2) of the Advisers Act.

Judgment Rendered

Injunction

Time Frame: February 23, 2018 to July 13, 2020 What were the allegations against the individual. The client alleges his Financial Advisor stole money from him.

$2,000,000.00

$5,833,218.59