Raymond James discharged Gamez on June 25, 2025, after allegations that he misappropriated client funds for personal use. On 8/29/2025, a client filed a dispute requesting “reimbursement of principal and lost market opportunity following FA’s alleged misappropriation of funds.” The client requested damages of $1,863,371.00, and the firm settled the claim for $413,370.18.
FINRA began investigating Gamez after Raymond James submitted a Uniform Termination Notice for Securities Industry Registration (Form U5) in July of 2025, following his dismissal. Following this filing, FINRA sent a request for documents and information to Gamez on September 8, 2025. FINRA received a response from Gamez’s counsel on October 15, 2025. In it, Gamez acknowledged the FINRA request but indicated that he would not provide any documentation or information related to the investigation.
Following the investigation and Gamez’s refusal to provide the requested documentation, FINRA sanctioned Gamez with a permanent bar from any association with any FINRA member in any capacity, effective October 23, 2025, following his signature of the Letter of Acceptance, Waiver & Consent (AWC) on October 17th.
How Do You Know If Your Broker Is Misappropriating Your Funds?
If you’ve ever wondered if your broker might not be doing what you’ve asked, or you’re not sure they’ve acted in your best interest, misappropriation—theft—is one possibility.
Your broker may be misappropriating your funds if money is leaving your account in ways that do not match the trades or transfers you have authorized, or if you see investments that you never agreed to. Red flags can include:
- Unexplained withdrawals
- Missing, altered, or fabricated account statements
- Forged or electronic signatures you do not recognize
- “Housekeeping” trades that generate fees but do not align with your stated goals or risk tolerance.
You should also be concerned if your portfolio is dropping sharply while the broader market is stable, or if positions are being liquidated or transferred without clear, written instructions from you.
Misappropriation can also show up in your broker’s behavior and lifestyle. Warning signs include a broker who suddenly becomes evasive, stops returning calls or emails, pressures you into complex or “exclusive” investments that are hard to understand, or tells you not to worry about reviewing your statements too closely.
In some cases, a dramatic upgrade in the broker’s personal lifestyle, or stories about “borrowing” from clients or temporarily moving funds, can signal they are treating client accounts like a personal ATM. If anything feels off, document every communication, pull all account statements, and contact our experienced securities law attorneys to review your situation and explain your recovery options.
Did You Invest With Jose Abel Gamez?
Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today at (800) 975-4345 to discuss your case and your options.