Eva Marina Ovejero Allegedly Misrepresented Investments

Eva Marina Ovejero (CRD# 4782585[1]), a broker registered with Raymond James, made misrepresentations to a client, according to an investor dispute. MDF Law is investigating the Miami, Florida-based financial professional for similar conduct. We urge investors with concerns about their own accounts to reach out for a free, confidential consultation with an attorney.

Continue reading for additional information about Ms. Ovejero’s background and the allegations against her. This post is sourced from her BrokerCheck profile, a Financial Industry Regulatory Authority record examined on December 12, 2024. 

Pending Dispute Seeks 7-Figure Damages

On September 23, 2024, an investor filed a dispute alleging that Ms. Ovejero misrepresented material information, breached her fiduciary duty, and engaged in negligence. In addition, the claim alleges that the client “was induced to invest with a third party in investments managed and held away from Morgan Stanley.” The dispute, which is still pending, seeks $3.275 million in alleged damages.

Eva Marina Ovejero “Adamantly” Denies Allegations

Ms. Ovejero issued a statement included with the pending dispute’s disclosure, according to her BrokerCheck profile. “I adamantly deny the claims made by my former client,” the statement reads. “They are totally without merit, and if need be, I will vigorously defend myself.”

What Is Misrepresentation?

Misrepresentation is one of many types of conduct FINRA-associated brokers are forbidden from engaging in. As FINRA explains in its online investor resources[2], the term denotes a broker’s failure to accurately disclose material facts regarding an investment. Material facts are those considered significant to an investor deciding whether to pursue an investment or strategy. For instance, a broker who misleadingly represents an illiquid investment as liquid might lead a client with liquidity needs to invest unsuitably. The same goes for a broker who omits, say, the risk that a client with principal-protection needs might lose their entire principal in a speculative private placement.

Brokers who misrepresent the investments they recommend may be found to have violated FINRA Rule 2020[3], which prohibits them from using “manipulative, deceptive or other fraudulent” devices or contrivances to induce the purchase or sale of securities.

Alex.Brown Group Representative

Ms. Ovejero is a member of the Alex.Brown group at Raymond James, as her profile[4] on the firm’s website reflects. “Her investment process takes into account your investing experience, your expectations for returns, your tolerance for risk, and the performance of your portfolio,” the section reads. “Based on what she learns about you and your goals and an analysis of the current financial markets, [she] designs a customized investment strategy based on recommendations made solely with your best interest in mind.”

FINRA: Broker Based in Miami, Florida

According to her BrokerCheck profile, Ms. Ovejero launched her career as a broker in 2004. That year, she registered with Citigroup’s office in Miami, Florida, where she remained until 2009. After leaving Citigroup, she joined Morgan Stanley’s office in Miami, which she departed in 2023 for Raymond James. Still with the firm today, she works at its office in Miami, Florida. Boasting 20 years of experience as a broker, she has completed three industry exams, including the Series 7 and the Series 66.

Investment Losses? Get a Free Consultation with MDF Law

Did you lose money you couldn’t afford to lose on investments recommended by Eva Marina Ovejero? You may have grounds to file a FINRA arbitration claim to recover damages. Having secured tens of millions in recoveries for our clients, MDF Law[5] takes cases on a contingency basis: you only pay a fee if you win. Call 800-767-8040 for a free consultation today.