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Alberto Neira Barred for Failure to Disclose Outside Business, Investment Sales

FINRA barred former Linsco Private Ledger (LPL) associate Alberto Neira of Irvine, California for failure to disclose a key outside business activity, in which Neira was a director of Silver Oak Leasing Inc., a corporation he had also recommended investing in to 14 LPL clients.

FINRA Case #2011026089402

According to the findings and while concurrently employed by LPL, Neira joined Silver Oak in 2006 and recommended investments to some of his LPL clients between 2008 and 2011. According to the investigation, this resulted in over $2 million in investments through privately conducted sales. Neira was found to have failed to inform LPL of these sales.

Neira was also found to have held approximately 55% of Silver Oak's common stock by 2009, receiving $180,000 in compensation from Silver Oak that year and over $250,000 in 2010.

In filing its Form U5 to terminate Neira's employment in January 2011, LPL accused Neira of failure to disclose outside business activities and "selling away in violation of firm policies."

If you have invested with Alberto Neira or with any broker you believe has possessed a conflict of interest when recommending or selling to you, and such misconduct or misleading information has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.