FINRA charged a former Houston-based registered rep with Citigroup with taking taking advantage of his non-English speaking customers who, for the most part, lived in Mexico.  Jose Luis Vinas failed to respond to FINRA requests for information, as was barred him from the industry.

FINRA found that:

• Vinas instructed customers to sign blank documents - including firm documents printed in English, which none of the customers could understand. 
• Vinas opened a variable credit line account at Citigroup in each customer's name, and submitted customer-signed requests for increased credit lines, that firm approved.
• Customers in actuality had not authorized the credit account, and they had no knowledge of the account or limit increases.
• Vinas also forged customer signatures on LOA's and had a customer sign blank LOAs, which Vinas submitted to Citigroup so as to transfer customer funds without the customers' knowledge.  He also faked verbal LOAs to another firm.
• Vinas gave the customers false account documents with fictitious balances, covering up the fact that he'd already closed the account after removing the rest of the funds.
• All told, Vinas converted $3.3mn from his customers.

This is FINRA Case #2009017198901.   [Disciplinary Actions for July 2011]