Molly English-Bowers May 27, 2016, 12:23pm


MIAMI (Legal Newsline) – An investor in a real estate purchase is suing Raymond James, alleging a fraudulent investment scheme that caused at least $71 million in damages to himself and a group of investors.

Carlos Enrique Hiller Sanchez filed the lawsuit, individually and on behalf of others, May 9 in U.S. District Court for the Southern District of Florida against Raymond James & Associates Inc. and Joel Burstein, alleging liability for a scheme to defraud, aiding and abetting fraud and fiduciary breach and civil conspiracy.

According to the complaint, Burstein was a manager for Raymond James, which became the asset manager for the fraudulent investment program connected to a ski resort in Vermont. The suit says in 2008, Burstein and Raymond James chose to assist one of their customers in perpetrating a fraud upon Hiller Sanchez and other similarly situated investors.

Hiller Sanchez seeks a trial by jury, compensatory and special damages, expenses, legal fees, court costs and other relief the court deems just and proper. He is represented by attorneys Paul Aiello, Michael P. Bennett and Jeremy R. Kreines of Bennett Aiello in Miami.

U.S. District Court for the Southern District of Florida Case number 16-cv-21643-KMW

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U.S. District Court Southern District of Florida Key West Division
301 Simonton St
Key West, FL 33040-6812

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