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David Escarcega, Center Street broker, Barred by FINRA

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9688840 – stockbrokers with chart behind

David Escarcega, Center Street broker,  Barred by FINRA.

David Escarcega Former Arizona-based Center Street Securities broker David Escarcega Has been permanently barred from the securities industry. The investment loss recovery lawyers at StockBrokerLawyer.com seek additional investors who have complaints regarding Mr. Escarcega.

David Escarcega has spent almost 15 years in financial services and most recently worked at Center Street Securities in Phoenix, Arizona. Before, he worked for Chase Investment Services in Gilbert, Arizona and Lincoln Financial Services Corporation in Chandler, Arizona. He is currently not registered with any state or firm.

FINRA documents show that David Escarcega has one pending regulatory complaint and one regulatory complaint that is on appeal.

In March 2016 the State of Arizona Corporations Commission named David Escarcega in a complaint alleging he misrepresented material facts related to unsuitable investments in renewable secured debentures to eight customers, had two customers sign and date blank forms, and falsified data on a suitability form. The action remains pending.

In 2014 FINRA barred David Escarcega following allegations he falsely represented investments in renewable secured debentures as “safe, low-risk, liquid, or guaranteed” when in fact they were unsuitable for the elderly clients in question, who purchased almost $1.5 million such debentures at Mr. Escarcega’s recommendation. FINRA fined Mr. Escarcega more than $52,000 and permanently barred him from the securities industry in the action, which is on appeal.

In 2009 David Escarcega voluntarily resigned from Chase Investment Services Corporation following allegations he sold an annuity through a non-reported vendor.

If you have losses in your account, with this financial advisor, call (888) 986-7199 or write the investment recovery lawyers at StockBrokerLawyer.com for a free no-cost consultation. We can help recover your losses and seek other damages, too.

You can use the email form or chat on StockBrokerLawyer.com You may be entitled to recover your losses. We work on contingency: we are paid only when you are paid. Time is limited; delay is the favorite defense of the brokerage firms. Call 888-986-7199 now to speak to an attorney for a no cost evaluation.


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