Miami Investment & Fraud Attorneys
305.372.9700
1 SE 3rd Ave # 1200
SunTrust International Center
Miami, Florida 33131

ESFIL Commercial Paper sold by Espirito Santo (E.S. Financial Services, Inc.)

Espirito Santo Bank is a Florida chartered bank headquartered in Miami which offers private banking services. Many of the clients of E.S. Financial Services, Inc., the wealth management division of Espirito Santo Bank, have been sold ESFIL Commercial Paper, which is currently in default. The International Securities Identification Number (ISIN) for the commercial paper is XS0994798923. Much of the commercial paper yielded 3.75%.

We understand certain customers were not explained the risks of this investment. In addition, certain customers were also not properly diversified and had too much of their portfolio in this single investment. Certain customers may have not been told that they commercial paper being issued was by an affiliated company of Espirito Santo.

This is not the first time that E.S. Financial Services has caused its clients losses by selling commercial paper of a related entity. In 2012, the Financial Industry Regulatory Authority (FINRA) fined E.S. Financial Services $200,000 for selling customers more than $140 million in commercial paper guaranteed by Espirito Santo International without fully explaining the risks.

Share This Page:
  • Super Lawyers
  • AV Preeminent
  • Million Dollar Advocates Forum
Location

Office
Location

1 SE 3rd Ave #1200
Suntrust International Center
Miami, Florida 33131

Telephone: 305-372-9700
Fax: 305-372-8265

Connect
With Us

  • Facebook
  • Twitter
  • LinkedIn
  • Google

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.

No content on this site may be reused in any fashion without written permission from www.Carlson-Law.net

MileMark Media - Practice Growth Solutions

© 2015 - 2017 Carlson & Associates, P.A. All rights reserved. This law firm website is managed by MileMark Media.