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Ariel Luis Hernandez, Former Stockbroker Stole Hundreds of Thousands From Century Village Retirees

On January 22, 2015, Ariel Luis Hernandez appeared in Broward County Court to face two charges of grand theft from an elderly person and misuse of identification. The initial bond of $300,000 has since been increased to $1 million. Broward Judge John “Jay” Hurley ordered him not to set foot on Century Village property or advertise financial services seminars or informational luncheons.
According to FINRA, Mr. Ariel Hernandez, was barred from the financial securities industry in March 2014, based upon allegations that he wired money form a client’s brokerage account to a bank without the client’s permission or knowledge. Mr. Hernandez used his position as a financial advisor to gain the trust of his victims. According to FINRA records, Mr. Hernandez is not currently registered, his previous employment records include: a) Liberty Partners Financial Services, b) Summit Brokerage Services and c) J.B. Hanauer.
According to Pembroke Pines Police, Hernandez forged the signatures of unwitting victims to steal hundreds of thousands of dollars from elderly clients who trusted him with their investment accounts. Three Century Village residents lost over $200,000, Detective Thomas Moran said he expected more victims to come forward.
Pembroke Pines Police Captain, Al Xiques, said “Although this is an economic crime, a white-collar crime, it’s actually one of the most heinous types of crime you can commit…The money was literally what these people were going to live off of for the rest of their lives.”
Attorney David Weintraub is currently representing three of the victims in this case.