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FINRA Broker Allegations

Allegations against: Gustavo Velazquez Melendez

Allegation type: Customer Dispute

Allegation status: Settled

The allegations read: The claimants allege unsuitable over concentration and exposure of their brokerage accounts to puerto rico municipal bonds and bond funds, unsuitable investments in risky puerto rican bonds and bond funds, and failing to reduce their risk and exposure as the puerto rican economy suffered a severe downturn and its credit ratings collapsed.

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