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Francisco Javier Malave Hernandez

Date:

October 29, 2024

Type of alert:

Misappropriation of Funds  

ChapmanAlbin is investigating Francisco Javier Malave Hernandez, who was recently barred by the SEC for alleged fraudulent activities related to unregistered securities offerings. According to the SEC’s findings, Malave, acting as an unregistered investment adviser, misled investors through his company, Toller Stern Financial, LLC, where he offered promissory notes he claimed were secure and profitable.

The SEC’s complaint alleges that Malave raised approximately $5 million from investors through unregistered securities offerings, misusing and misappropriating client funds. He reportedly guaranteed the safety of investments without disclosing the significant risks involved, operating what the SEC claims was a scheme reliant on new investor funds to cover interest and principal payments to earlier investors.

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