Oscar Francis— Alleged Fraud

Oscar Francis Allegedly Engaged in Fraud Involving a MassMutual Product, & a Customer Complaint is Requesting $59,360

Oscar Francis allegedly engaged in acts of fraud, and a customer complaint is requesting $59,360.00, according to FINRA Reports under review by investor rights attorney Alan Rosca.

Said complaint was filed on November 5, 2018, FINRA states, and the customer purportedly believed that he was investing in a MassMutual product, which was allegedly later determined to be a fraudulent investment, FINRA notes.

Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Oscar Francis’s alleged fraud. Investors who believe they may have lost money in activity related to Oscar Francis’s alleged fraud are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Oscar Francis also fell under an investigation from the Department of Financial Services, State of Florida, which opened an investigation into reporting of producer’s termination for cause, FINRA notes.

A settled customer dispute filed on August 7, 2017 alleged that, in 2016, the customer purportedly believed that he was investing in a MassMutual product, which was later determined to be an unapproved investment, FINRA notes.

The settlement amount requested was $20,000 and the case was settled for $20,370, FINRA notes.

In 2017, Francis also allegedly settled two additional customer disputes, also alleging fraud, one for $44K, and one for $243K, and recently he was sentenced and ordered to pay $400K in restitution, FINRA states.

Oscar Francis Worked in the Securities Industry for 11 Years with 3 Different Firms, Last Worked with MML Investors, & Has 7 Disclosures

Oscar Francis has spent his securities career working in Florida:

• MML Investors Services, LLC, Ft. Lauderdale, FL – July 18, 2008 to June 23, 2017
• AXA Advisors, LLC, Ft. Lauderdale, FL – March 30, 2007 to July 10, 2008
• Raymond James & Associates, Inc., Boca Raton, Fl – April 11, 2006 to February 5, 2007

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.

Securities Lawyer Investigating

The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Oscar Francis’s alleged fraud. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Oscar Francis’s alleged fraud may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

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