Salas Wang LLC is investigating claims for investors of  UBS Puerto Rico bond funds.  We believe that UBS recommended that its clients make large investments in proprietary, highly leveraged, risky, UBS bond funds.  Some investors allege that the quality and character of these funds were misrepresented.  Specifically, the investigation involves:
Tax-Free Puerto Rico Fund
Tax-Free Puerto Rico Fund II
Tax-Free Puerto Rico Target Maturity Fund
Puerto Rico AAA Portfolio Target Maturity Fund, Inc.
Puerto Rico AAA Portfolio Bond Fund
Puerto Rico AAA Portfolio Bond Fund II
Puerto Rico GNMA & U.S. Government Target Maturity Fund
Puerto Rico Mortgage-Backed & U.S. Government Securities Fund
Puerto Rico Fixed Income Fund
Puerto Rico Fixed Income Fund II
Puerto Rico Fixed Income Fund III
Puerto Rico Fixed Income Fund IV
Puerto Rico Fixed Income Fund V
Puerto Rico Fixed Income Fund VI
Puerto Rico Short Term Investment Fund
Multi-Select Securities Puerto Rico Fund
Puerto Rico Investors Tax-Free Fund
Puerto Rico Investors Tax-Free Fund II
Puerto Rico Investors Tax-Free Fund III
Puerto Rico Investors Tax-Free Fund IV
Puerto Rico Investors Tax-Free Fund V
Puerto Rico Investors Tax-Free Fund VI
According to recent complaints,  these funds have sustained substantial losses.  Further Puerto Rico UBS brokers also recommended that their clients borrow funds, either through traditional borrowing such as a home equity loan or through a margin account, to invest even larger amounts into these proprietary funds. The net result is layers and layers of borrowed money being used to buy more securities, which exponentially increases the risks the investors carried. Ultimately, many of these funds fell drastically in value, resulting in catastrophic losses for many investors.
If you or someone you know has invested in these funds, please contact Jeffrey M. Salas at 312.803.4963, jsalas@salaswang.com, or via the contact form below.
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