Martin George Prego

Martin George Prego was born and raised in Buenos Aires, Argentina. He graduated with honors in 1997 with a dual bachelor's degree in Political Science and International Relations from Universidad Del Salvador ("USAL") in Buenos Aires, Argentina. Martin was awarded two semesters at the University of Miami under the International Exchange Program, where he took undergraduate and graduate courses in international business. In 2018, Martin received a Juris Doctor from Mitchell Hamline School of Law in St. Paul, Minnesota. Martin received a certificate from Mitchell Hamline Alternative Dispute Resolution Institute in Advocacy and Problem Solving.
Martin started his career at Merrill Lynch in 1997, where he held several positions, including bank operations supervisor, banking officer, and compliance & risk management supervisor. In 2004 Martin joined Espírito Santo Bank in Miami, Florida where he served as Head of Compliance. In 2013, Martin joined Gibraltar Private Bank & Trust in Coral Gables as SVP of Compliance assisting the bank with its then OCC imposed Consent Order. In 2014 Martin joined Brickell Bank as Group Chief Compliance Officer. He was responsible for managing all aspects of the bank and its subsidiaries' compliance programs. During his tenure, Martin led the resolution of regulatory orders from various regulators, implemented and managed risk-based AML/BSA/OFAC & regulatory compliance programs.
Martin Prego has extensive experience assisting banks, broker-dealers, and investment advisors in a broad range of issues, including regulatory matters, resolution of regulatory enforcement actions, merger and acquisitions, regulatory examinations, and legal matters. Martin has fostered a solid reputation with state and federal regulators such as FDIC, OCC, SEC, FINRA, and the State of Florida.

• Banking Law

• Credit Cards Accepted
• Contingent Fees

Florida

The Florida Bar

ID Number: 1022152

Attorney at Law

PREGO Law Group PLLC

2020 - Current

President

Brickell Global Markets, Inc.

2016 - 2019

Group Chief Compliance Officer

Brickell Bank

2014 - 2019

Intern

PRATT Law PA

2017 - 2018

SVP AML Officer

Gibraltar Private Bank & Trust

2013 - 2014

Chief Compliance Officer

Espirito Santo Bank

2004 - 2012

Various

Merrill Lynch

1997 - 2004

William Mitchell College of Law

J.D. (2018) | Law / Advocacy / Alternative Dispute Resolution

2015 - 2018

The Florida Bar  # 1022152

Member

Current

FIBA

Member

Current

FBA

Member

Current

CAMS

Association of Anti-money Laundering Specialist (ACAMS)

2005

Q. Liability for fraudulent ACH chargeback dispute with $20,000 damages.

February 14, 2025

A: Under federal law, potential liability for your mother and the bank in this ACH chargeback dispute involves multiple legal considerations:

1. Your Mother’s Potential Liability

Your mother may be liable for fraud or unjust enrichment based on the following factors:

Fraudulent Chargeback Claims: If she knowingly authorized you to use her account and later misrepresented the transactions to the bank as unauthorized, she may be liable for fraud.

Unjust Enrichment: If she benefited from the funds being used for your expenses and then reversed them, she may be liable for unjustly retaining money that she initially consented to you using.

Potential Civil Claims: You could pursue civil remedies under Florida or California law for fraud, unjust enrichment, or even conversion if she falsely claimed the transactions were unauthorized.

2. The Bank’s Potential Liability

The bank's role in this dispute hinges on its compliance with Regulation E (Electronic Fund Transfer Act, 15 U.S.C. § 1693 et seq.) and the NACHA Operating Rules governing ACH transactions. Key points include:

Negligence or Wrongful Reversal: If the bank was aware that you had authorized access and still reversed the transactions without proper investigation, you might have a claim for negligence.

Failure to Conduct a Reasonable Investigation: Under Regulation E, banks must conduct a reasonable investigation into disputed transactions. If the bank knew or should have known that your mother had authorized the transfers but still approved the chargebacks, it could be liable for failing to investigate properly.

Breach of Banking Regulations or Internal Policies: If the bank failed to follow its own dispute resolution procedures or NACHA rules, this could form the basis for a breach of contract or negligence claim.

Jurisdictional Considerations

Since the transactions occurred across state lines (Florida and California), federal jurisdiction could apply.

You may need to bring claims in state or federal court, depending on the applicable laws and amount in controversy.

Next Steps

Demand Letter: Consider sending a formal demand letter to both your mother and the bank outlining the fraudulent nature of the chargebacks and requesting reimbursement.

Banking Complaint: File a complaint with the Consumer Financial Protection Bureau (CFPB) and your state’s banking regulator.

Legal Action: If the bank fails to respond and your mother refuses to return the funds, you may need to consider filing a lawsuit in small claims or civil court for damages.

If your mother intentionally misrepresented the transactions, you may have a strong claim against her. The bank’s liability depends on whether it followed Regulation E and NACHA’s dispute resolution rules. If it failed in its investigation, it could be liable for negligence or wrongful reversal of funds. ... Read More

Q. Can a Florida notary use an embosser with impression inker in stead of used a rubber stamp?

January 3, 2025

A: Under Florida Statute 117.05(3)(a), Florida notaries are required to use a rubber stamp seal that includes specific information, such as the notary’s name, the words “Notary Public - State of Florida,” the notary’s commission number, and the commission expiration date. The law mandates the use of a rubber stamp, so an embosser alone is not sufficient to meet the statutory requirements.

However, a notary may use an embosser in addition to the required rubber stamp seal for added security or ceremonial purposes. If an embosser is used, it must not replace the rubber stamp, and if the embosser’s impression is used, it is recommended to apply an impression inker to make it visible for photocopying or scanning. This is an optional enhancement but cannot serve as a substitute for the rubber stamp seal.

In summary, a Florida notary must use the required rubber stamp seal to comply with the statute. The embosser, even with an impression inker, may only supplement but not replace the rubber stamp. ... Read More

Q. My husband was refused service because he was rowdy with a store employee. Can that employee refuse to serve me

September 10, 2020

A: Notwithstanding I am basing my response solely on your post, in general terms, any business does reserve the right to refuse service. However, a business cannot break the law or discriminate on the basis of suspect and quasi-suspect classifications such as race, gender, etc. I will be more than happy to discuss your matter further if in Florida. You can contact my office by filling a form on my website: https://www.pregolawgroup.com