Advisor Alert: Our Attorneys Are Investigating Gerald Roger Dewes For Investment Fraud
Did You Lose Money Because of Gerald Dewes?
Filed: January 16, 2024
Gerald Dewes currently has two (2) pending judgment/lien events. Overall, he has been the subject of one (1) regulatory event, six (6) customer complaints, one (1) termination event, and two (2) judgment/lien event. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Gerald Roger Dewes.
Who Is Gerald Roger Dewes?
- Advisor Name: Gerald Roger Dewes
- Aliases: Gerald Dewes
- CRD: 2465538
- Location: East Amherst, New York
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Cadaret Grant & Co Inc., Lincoln Financial Securities Corporation, and Northeast Securities, Inc.
- Number of Known Customer Complaints: 6
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Number of Known Judgment/Lien Events: 2
- Can Gerald Dewes Be Sued: Yes, in Private Arbitration
- Can Gerald Dewes’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $1,710,000
- Highest Settlement: $2,500,000
If you have suffered investment losses by Gerald Dewes, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Gerald Dewes For Broker Misconduct
As of this publication date, Gerald Dewes has been the subject of 1 regulatory event, 1 termination event, 6 customer disputes and 2 judgment/lien events. Let’s review them below.
In April 2021, a complaint was filed against or in reference to Gerald Dewes by a customer of Cadaret Grant & Co Inc. alleging unsuitable investment recommendations, common law fraud, breach of contract, negligent supervision, and breach of fiduciary duty in connection with alleged investments in an unapproved private investment and two OTC stocks that were recommended by Mr. Dewes through his independent registered investment adviser and effected through accounts held at a third-party custodian. On September 3, 2021, Mr. Dewes settled the claim for $58,000, and some or all of this amount may have been paid by Mr. Dewes’s employer and/or insurance carrier.
In May 2020, a FINRA arbitration was filed against or in reference to Gerald Dewes by a customer of Cadaret Grant & Co Inc. alleging unsuitable investment recommendations, common law fraud, breach of contract, negligent supervision, and breach of fiduciary duty in connection with their alleged investments in two unapproved private investments and two equity-OTC securities that were recommended by the individual through his independent registered investment adviser and effected through accounts held at a third-party broker-dealer. Per the customer, he/she lost over $1,710,000 because of Mr. Dewes’s actions. On April 22, 2021, Mr. Dewes settled the claim for $2,500,000, and some or all of this amount may have been paid by Mr. Dewes’s employer and/or insurance carrier.
In March 2020, a complaint was filed against or in reference to Gerald Dewes by a customer of Cadaret Grant & Co Inc. alleging that the client was not aware of a REIT investment recommended by advisor Dewes. Client also alleges unsuitability and high interest charges related to the investment.
In March 2020, FINRA initiated a regulatory action against or in reference to Gerald Dewes for refusing to appear for on-the-record testimony requested by FINRA in connection with an investigation into his potential participation in undisclosed private securities transactions and outside business activities.
In November 2019, a complaint was filed against or in reference to Gerald Dewes by a customer of Sunbridge Management Inc. alleging that the client heard nothing from advisor Dewes despite repeated promises of 10% returns three years earlier.
In November 2019, Cadaret Grant & Co Inc. terminated Gerald Dewes for selling away from the firm by soliciting client investments into an unapproved, undisclosed outside business activity for which he was an officer and director and converted funds to his own use.
In January 2018, Gerald Dewes was the subject of a civil judgment or lien in the amount of $76,672. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In February 2014, Gerald Dewes was the subject of a civil judgment or lien in the amount of $6,300. In general, judgment liens are court rulings that give a creditor the right to take possession of a debtor’s property when the debtor has failed to fulfill his or her contractual obligations. Sometimes, these types of disclosures reflect IRS judgments, tax liens, and/or civil judgments against a financial advisor.
In September 2002, a NASD arbitration was filed against or in reference to Gerald Dewes by a customer of John Hancock Financial Services alleging that Mr. Dewes traded client in a manner inconsistent with the stated investment objectives, and was not adequately supervised by broker dealer. Per the customer, he/she lost over $91,000 because of Mr. Dewes’s actions. On June 11, 2004, Mr. Dewes settled the claim for $25,500, and some or all of this amount may have been paid by Mr. Dewes’s employer and/or insurance carrier.
In December 1999, a NASD arbitration was filed against or in reference to Gerald Dewes by a customer of Signator Investors, Inc. alleging that Mr. Dewes marketed Pre-O series B preferred shares on behalf of a third party. Per the customer, he/she lost over $654,652 because of Mr. Dewes’s actions.
How To File A Claim Against Gerald Dewes (previously with Cadaret Grant & Co Inc., Lincoln Financial Securities Corporation, and Northeast Securities, Inc.) To Get Your Money Back
If you have questions about Gerald Dewes, Cadaret Grant & Co Inc., Lincoln Financial Securities Corporation, Northeast Securities, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll free at 1-800-950-6553.