Investor Alert: Minnesota Department of Commerce Alleges Misconduct by Former Investment Adviser RAYMOND JOSEPH BERG – May Recover Investor Losses
Former OMEGA WEALTH MANAGEMENT GROUP LLC Investment Adviser, RAYMOND JOSEPH BERG is the subject of a consent order issued by the Minnesota Department of Commerce.
CRD#: 1080978
DEAN SPEROS DELLAS (CRD#: 5596286), a former broker for T3 TRADING GROUP, LLC in NEW YORK, NY, has a pending complaint from the Commodity Futures Trading Commission.
Investors should be aware that the Minnesota Department of Commerce has brought serious allegations against RAYMOND JOSEPH BERG.
These allegations raise substantial concerns regarding potential misconduct in the handling of investor accounts.
According to publicly available records, In June 2023, Respondent received $13,100 cash from a retired Minnesota realtor (a former friend and business associate of Respondent) for the stated purpose of a 6-to- 8-week investment but did not specify the nature of the investment (later disclosed to the Commissioner as cryptocurrency) or provide an investment instrument to the investor.
In December 2023, Respondent received an additional $1,100 cash from the investor citing an undisclosed “Network Fee”. After the proposed timeframe of the investment elapsed, Respondent returned no earnings or principal to the investor resulting a total loss and failed to verify the investment to the Commissioner during the subsequent investigation.
By recommending the purchase of a security without reasonable grounds to believe that the recommendation was suitable for the investor and failing to submit proof of the investment to the Commissioner of Commerce as requested, Respondent violated Minn. Rule 2876.5023, subp. 1(A) (2023) and Minn. Stat. § 45.027 subd. 1a (2024).
Investor Alert: Minnesota Department of Commerce Alleges Misconduct by Former Investment Adviser RAYMOND JOSEPH BERG – May Recover Investor Losses
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.
St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors. The firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.
Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $500 million dollars on behalf of victimized investors.
We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.
There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.
If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.
Some of the information in this blog post was obtained from FINRA on 7/17/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.