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Fernando Corujo Subject of Regulatory Action

Fernando Corujo (CRD #: 5657513), a broker registered with Lincoln Financial Securities Corporation, is the subject of a regulatory action in Puerto Rico. This disclosure appears on his BrokerCheck record, accessed on February 16, 2024. Details concerning the regulatory action are provided below. 

Promissory Note Allegations 

On November 1, 2023, Puerto Rico alleged that Providence Financial Investments and PFI Global sold promissory notes in the United States and Puerto Rico through their originators. This alleged activity took place from  2013 until late 2018. The proceeds were allegedly used to generate income from investments in accounts payable through affiliated companies in Brazil, which is a practice known as factoring. 

These investments were allegedly high-risk investments in non-registered securities that were offered as secured and low-risk investments to investors in Puerto Rico. Allegedly, neither Providence nor PFI were registered in Puerto Rico as issuers, agents, broker-dealers, or investment advisors. 

Fernando Corujo was allegedly recruited as an originator to offer promissory notes to clients. According to Puerto Rico, he was not an approved agent and allegedly did not have the necessary exams approved. 

This order is pending subject to the final determination of an administration procedure. 

Background Information 

Fernando Corujo has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

Besides Puerto Rico, Fernando Corujo is also registered as a broker in California, Florida, and New York. 

Kurta Law Can Help 

If you have worked with Fernando Corujo and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.