Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that Jesus Manuel Bravo (a/k/a Jesse Bravo) (CRD # 2838164) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into excessive and unsuitable trading (churning) customer accounts.

The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Bravo.

Jesus Manuel Bravo (aka Jesse Bravo) Suspended from Securities Industry by FINRA for Churning (1)Registration Background for Jesus “Jesse” Bravo

Mr. Bravo first became registered in the securities industry in 1997. FINRA BrokerCheck indicates he is currently registered with Lutz, FL based DMK Advisor Group, Inc. (CRD # 41067). His prior registrations include CBC Securities, Inc. (CRD # 46153) from February 2020 to October 2020, Joseph Stone Capital L.L.C. (CRD # 159744) from August 2014 to March 2020, and Solomon Whitney LLC (CRD # 145012) from September 2013 to August 2014.

FINRA’s Allegations Against Jesus “Jesse” Bravo

According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated November 22, 2022 (No. 2020066887401), Mr. Bravo consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:

  • Between March 2015 and September 2017, [Mr.] Bravo excessively and unsuitably traded two customer accounts…”;
  • First, [Mr.] Bravo caused Customer A, a senior investor, to place 21 trades, with a total principal value of more than $224,000, in his account between March 2015 and February 2017”;
  • [Mr.] Bravo’s recommendations resulted in an annualized cost-to-equity ratio of 35 percent – meaning that Customer A’s account would have to grow by 35 percent annually just to break even”;
  • Second, [Mr.] Bravo caused Customer B, a carpenter with limited investment experience, to place 23 trades in his account between April 2016 and September 2017”;
  • Customers A and B relied on [Mr.] Bravo’s advice and accepted his recommendations”; and
  • By virtue of his actions, Mr. Bravo violated FINRA Rule 2111, regarding suitability and FINRA Rule 2010, regarding standards of commercial honor and principles of trade.

FINRA Sanctions Jesus “Jesse” Bravo

As a result of such violations and in addition to the above-described findings and conclusions, FINRA’s November 22, 2022 AWC also indicates that Mr. Bravo consented to the following sanction(s):

  • A three-month suspension from associating with any FINRA Member in all capacities; and
  • Restitution in the amount of $10,234.71 plus interest.

 A History of Securities Industry Customer Complaints

In addition to Jesus “Jesse” Bravo being suspended by FINRA from the securities industry after an investigation into excessive and unsuitable trading (churning) in customer accounts, FINRA BrokerCcheck for Mr. Bravo reveals that he has a prior history of customer complaints and/or customer-initiated arbitrations, including but not necessarily limited to the following:

  • On April 14, 2000, a customer initiated a complaint against Mr. Bravo for alleged actions that occurred while he was registered with The Thornwater Company LP (CRD # 36195). The customer alleged excessive trading and suitability. The customer further alleged damages of $8,800.00. On June 28, 2000, the complaint was settled in the amount of $8,800.00.

If you or someone you know has or had a brokerage account with Jesus Manuel Bravo (a/k/a Jesse Bravo) and have concerns regarding losses in your investments or possible sales practice violations including fraud, churning or unsuitability, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.