Victim of Financial Fraud? Call Now
Home » Broker Blog » Wells Fargo Clearing Services Fires Joseph Fonseca

Wells Fargo Clearing Services Fires Joseph Fonseca

Joseph Fonseca (CRD #: 6069033) was recently fired from his position at Wells Fargo Clearing Services, according to his BrokerCheck record, accessed on January 7, 2022. Details surrounding his termination have been provided below.

Termination Details

On November 1, 2021, Wells Fargo Clearing Services fired Joseph Fonseca after he allegedly added an attorney-in-fact to three jointly owned bank accounts without at least one of the joint tenants being present at the branch during this change. The allegations further state that Joseph Fonseca falsely indicated in the bank’s record system that at least one of the joint tenants was present at the branch when this relationship change was made. 

Joseph Fonseca’s unethical conduct violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor. 

Background Information

Joseph Fonseca has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Besides Wells Fargo Clearing Services, he has not worked with any other firm.

Kurta Law Can Help

If you lost money while working with Joseph Fonseca, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com 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 and 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. 

Recent Results

$16.75M

Million

Recovery for ARC NYC REIT Investors
Learn More
Kurta Law recovered millions of dollars for investors who purchased the speculative and unsuitable ARC NYC REIT. The arbitration settled for substantially more than the investor losses.

Recent Results

$9.3M

Million

Investors Receive Award for More than their Losses
Learn More
Jonathan Kurta was able to recover over $9.3 million for a group of defrauded investors. The claims were based upon the brokerage firm’s failure to supervise a stockbroker who stole client funds and then prepared and disseminated fake account statements for decades.

Recent Results

$7.1M

Million

Elderly Victims Recover After a Decade of Fraud
Learn More
Jonathan Kurta represented a group of elderly women who were the victims of a financial crime perpetrated by a rogue broker. The broker utilized forged documents to steal funds from the clients’ accounts over a decade.

Recent Results

$4.2M

Million

Investor vs. Royal Alliance
Learn More
Jonathan Kurta represented an investor who alleged that Royal Alliance Associates had not fulfilled their supervisory duties. This allegedly allowed brokers to engage in conversion and RICO violations. Read a copy of the award here.

Recent Results

$1M

Million

Utah Firm Executed Unnecessary Transaction
Learn More
A FINRA panel sided with Kurta Law and found that a Utah brokerage firm executed unnecessary transactions in order to generate more commissions. Read a copy of the award here.

Recent Results

$2M

Million

Arizona Investors Options Trading Scam
Learn More
Kurta Law negotiated a $2 million settlement on behalf of Arizona investors who were defrauded in an options trading scam.

Categories