The Financial Industry Regulatory Authority filed a complaint Wednesday against a former broker who ignored the regulator’s repeated requests to appear in person to give on-the-record testimony as part of FINRA’s investigation of a broker-dealer he “had dealings” with, according to FINRA.
Gustavo Trujillo Franco, an Ecuadorian citizen who resided in Florida since about May 2018, was already a defendant in a criminal case that started March 12, 2019, in U.S. District Court for the Eastern District of New York in Brooklyn, according to court documents in which his name was listed as Gustavo Trujillo.
As part of a plea agreement in April 2019, he pleaded guilty to conspiracy to commit wire fraud and money laundering.
Franco registered with FINRA as a foreign associate and was, starting in May 2017, associated with broker-dealer Global Strategic Investments, which changed its name to Gentem Capital and then LevelX Capital, according to the FINRA complaint. However, he was terminated by that firm March 15, 2018, FINRA said in the complaint without providing a reason.
No reason for the termination was provided on his profile at FINRA’s BrokerCheck website, either.
LevelX and the attorneys representing Franco — Ashley and Daniel Forman of Miami-based Forman Law Group — did not immediately respond to requests for comment about the FINRA complaint.