The law offices of Gana Weinstein LLP are currently investigating claims that Broker Dana Vietor (Vietor) has been accused by investors of engaging in fraudulent misappropriation of their funds. According to records kept by The Financial Industry Regulatory Authority (FINRA), it appears that Vietor was employed by Cfd Investments, INC. at the time of the activity. If you have been a victim of Vietor’s alleged misconduct our firm may be able to assist you in recovering funds.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $240,000.00 on May 12, 2023.
Sale of private securities transaction not authorized by the firm, breach of fiduciary duty, negligence, fraud, misrepresentation, Iowa securities laws, breach of contract, failure to supervise, and respondeat Superior.
FINRA BrokerCheck shows a final customer complaint on February 08, 2023.
Respondent Vietor failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Our legal team has a wealthy experience handling cases where advisors defraud clients by securing loans or selling securities through OBAs. Engaging in the sale of unapproved investment products, fake investments that conceal misappropriated funds, and other fraudulent activities is referred to as “selling away” in the industry—a severe violation of securities regulations. “Selling away” is the term used in the industry when a financial advisor solicits investments in companies, promissory notes, or securities without obtaining approval from their affiliated brokerage firm. Sometimes those investments have some legitimacy but often times these types of investments can end up being Ponzi schemes or the advisor can be engaging in the conversion of funds.
However, federal securities laws and the FINRA rules require firms to monitor and supervise its employees in order to detect and prevent brokers from offering investments in this fashion. To effectively supervise their brokers, each firm must implement procedures to monitor advisors’ activities and interactions with the public. Selling away misconduct often occurs where brokerage firms either fail to put in place a reasonable supervisory system or fail to actually implement that system. Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including selling away.
In cases of selling away the investor is unaware that the advisor’s investments are improper. In many of these cases the investor will not learn that the broker’s activities were wrongful until after the investment scheme is publicized, the broker is fired or charged by law enforcement, or stops returning client calls altogether.
Vietor has been in the securities industry for more than 31 years. Vietor has been registered as a Broker with Cfd Investments, INC. since 2016.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.