Name and Shame
Name and Shame

EUGENIO GARCIA JIMENEZ JR REVIEW

Complaint
#5YDQI

This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/eugenio-garcia-jimenez-jr-5YCWO/unregistred-investment-adviser-gets-punished-id5ydqi .

NameandShame Author
The Smart Investor Feed
6th Jan, 2021

Unregistred Investment Adviser Gets Punished!

Today, The Smart Investor Feed brings you another morally reprehensible fraud.


Eugenio Garcia Jimenez Jr has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?


We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.


Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:

Full Report On Eugenio Garcia Jimenez Jr

In December 1, 2020, the Securities and Exchange Commission charged an unregistered investment adviser based in Orlando, Florida for defrauding the Municipality of Mayagüez, Puerto Rico and misappropriating $7.1 million of taxpayer funds.


According to the SEC's complaint, in 2016, Eugenio Garcia Jimenez, Jr. told municipal officials that he could invest approximately $9 million of the municipality's funds with no risk to principal and earn the city annual returns of approximately 10%. As set forth in the complaint, the city intended to use returns from this investment to fund municipal projects, including the construction of a new trauma center. The complaint alleges that Garcia falsified documents, including bank correspondence and brokerage opening documents, to convince municipal officials to entrust him with the municipality's funds. As alleged in the complaint, instead of executing an investment strategy designed to generate the promised returns, Garcia purchased U.S. Treasury notes, immediately took out a margin loan pledging the notes as collateral and, over a period of six months, misappropriated $7.1 million by transferring funds to himself, entities he controlled, and his associates.


The SEC's complaint charged the defendant with violating Section 17(a) of the Securities Act of 1933, Section 10(b) and of the Securities Exchange Act of 1934 ("Exchange Act") and rule 10b-5 thereunder, and Sections 206(1) and (2) of the Investment Advisers Act of 1940 ("Advisers Act"). The SEC seeks permanent injunctive relief, disgorgement of allegedly ill-gotten gains plus prejudgment interest, and civil penalties.


Conclusion: Eugenio Garcia Jimenez Jr Is A Fraud

The report on SEC clearly suggests that Eugenio Garcia Jimenez Jr never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.


If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.

Help Us Fight These Criminals

Do you have evidence against Eugenio Garcia Jimenez Jr or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.


Full Disclosure: We sourced this piece of information from the SEC database


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