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BREACH OF FIDUCIARY DUTY AND CONSTRUCTIVE FRAUD; FRAUD AND DECEIT AND CONSPIRACY TO COMMIT FRAUD AND DECEIT; NEGLIGENCE, GROSS NEGLIGENCE AND NEGLIGENT MISREPRESENTATION; VIOLATION OF CALIFORNIA CORPORATIONS CODE; CONVERSION - FEBRUARY/MARCH OF 2008 PLAINTIFF INVESTED HER RETIREMENT MONEY IN LAND ENTITLEMENT AND OPPORTUNITIES FUND, LLC BASED ON THE RECOMMENDATION OF DEFENDANT
Damage Amount Requested
$641,051.92
Settlement Amount
$36,000.00
Broker Comment
IN 2010, A LAWSUIT WAS FILED AGAINST AN INVESTMENT ADVISER, WHOM GUILLEN HAD REFERRED A CLIENT TO TWO YEARS PRIOR. GUILLEN WAS BROUGHT INTO THE SUIT AS A DEFENDANT BECAUSE HE HAD REFERRED THE CLIENT TO THE INVESTMENT ADVISER. THE SUIT WAS BROUGHT BECAUSE OF HOW THE INVESTMENT ADVISER MANAGED THE INVESTMENT. GUILLEN DID NOT MANAGE THE INVESTMENT, BUT ONLY HAD REFERRED THE CLIENT TO THE ADVISER. THE LAWSUIT WAS RESOLVED, AND GUILLEN WAS NOT FOUND TO HAVE DONE ANY WRONG DOING, AND WAS NOT ADJUDICATED LIABLE ON ANY OF THE CAUSES OF ACTION. THE LAWSUIT WAS LATER DISMISSED AS TO GUILLEN. CASE NUMBER 37-2010-00097667-CU-FR-CTL WHICH HAD BEEN FILED IN THE SUPERIOR COURT OF THE STATE OF CALIFORNIA.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.