Gregory Dean: Financial Advisor/Broker Gregory Dean Charged by SEC

Gregory Dean: Financial Advisor/Broker Gregory Dean Charged by SEC | Goodman & Nekvasil P.A., May Recover Investor Losses

Gregory Dean FINRA CRD #4922996

If you or someone you know has a complaint regarding Gregory Dean, call Goodman & Nekvasil, P.A. at 1-800-500-4442 for a free consultation. You may be eligible to recoup lost funds. Goodman & Nekvasil, P.A. accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 1-800-500-4442 now to speak to our Firm for free concerning Gregory Dean.

Gregory Dean is a currently licensed financial advisor/broker with Worden Capital Management, LLC. Gregory Dean was previously licensed with J.D. Nicholas & Associates, Inc.

According to Gregory Dean’s CRD, the Securities and Exchange Commission charged two New York-based brokers with fraudulently using an in-and-out trading strategy that was unsuitable for customers in order to generate hefty commissions for themselves. The Securities and Exchange Commission alleges that Gregory T. Dean (Dean) and the other individual recommended to customers a high-cost trading strategy consisting of the excessive buying and selling of stocks. This strategy benefitted Gregory Dean because the frequency of the trading generated substantial commissions and other fees. The customers who trusted Gregory Dean and relied on his supposed stock-picking expertise, however, ended up with enormous losses. The uniform trading strategy followed by Dean in 27 customer accounts at J.D. Nicholas & Associates, Inc. (“J.D. Nicholas”), a now-defunct broker-dealer based in Syosset, NY, shows, the high-cost, excessive trading generated ill-gotten gains for Dean while his customers’ account balances dwindled away. Gregory Dean’s conduct violated the antifraud provisions of the federal securities laws in two respects. First, Gregory Dean recommended a trading strategy to 27 customers without any reasonable basis to believe that the strategy was suitable for anyone. Gregory Dean knew or should have known that, in view of the excessive in-and-out trading and the cost structure, his strategy was bound to lose money in each of the 27 customer accounts. Second, Gregory Dean engaged in churning with regard to at least 3 of the 27 customer accounts. By virtue of the conduct alleged, Gregory Dean, directly or indirectly, singly or in concert, violated and is otherwise liable for violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

According to Gregory Dean’s CRD, 11 customer disputes alleging sales practice violations against Gregory Dean have been settled.

Customer Dispute 7/1/19: Allegations involving  include negligence, unsuitability, breach of fiduciary duty, breach of contract, negligent misreprsentation and omissions. This customer dispute is pending.

Customer Dispute 2/19/19: Allegations include excessive trading, churning, and unsuitable transactions. This customer dispute is currently pending. 

If you lost any money on investments with Gregory Dean, you may be able to recover your losses. If you lost money on investments with Gregory Dean and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Gregory Dean’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Gregory Dean and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us. 

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