Danilo Dereck Fuentes of Columbia Maryland a stockbroker currently registered with Dawson James Securities, Inc. is referenced in a customer initiated investment related arbitration claim in which Fuentes was found liable on the customer’s claims of (1) breach of contract (2) breach of fiduciary duty (3) negligence and (4) suitability concerning the customer’s investments in Tonix Pharma common stock. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-01756 (Feb. 1, 2018).
FINRA Public Disclosure confirms that Fuentes has been identified in seven additional customer initiated investment related disputes containing allegations of his misconduct while employed with Dawson James Securities, Inc., VTR Capital, Inc., Ladenburg Thalmann & Co. Inc. and S.W. Bach & Company.
Specifically, a customer initiated investment related arbitration claim regarding Fuentes’ activities was settled for $9,998.00 in damages supported by accusations that misrepresentations had been made regarding investments; the customer had been defrauded; fiduciary and contractual duties owed to the customer had been breached, ill-advised transactions were effected in the customer’s account; and there were violations of Securities Exchange Act of 1934 Section 10(b) and Securities and Exchange Commission (SEC) Rule 10b-5 committed in reference to the customer’s investment transactions.
Thereafter, on June 17, 2000, a customer filed an investment related complaint concerning Fuentes’ conduct where the customer sought $44,431.00 in damages founded on allegations that Fuentes effected unauthorized over-the-counter equities trades in the customer’s account. On July 8, 2000, another customer filed an investment related complaint regarding Fuentes’ activities in which the customer requested $12,130.00 in damages based upon accusations that Fuentes neglected to abide by the customer’s investment instructions, and caused the customer to suffer from unwarranted investment losses on over-the-counter equities.
Then, on November 7, 2000, a customer filed an investment related complaint involving Fuentes’ conduct where the customer sought $630,000.00 in damages supported by allegations that Fuentes executed unauthorized over-the-counter equities trades in the customer’s account and caused the customer to suffer from poor investment performance. On November 13, 2000, another customer filed an investment related complaint concerning Fuentes’ activities in which the customer requested $201,617.00 in damages founded on accusations of poor performance and unauthorized equity trading in the customer’s equity portfolio.
Further, on February 17, 2005, a customer initiated investment related complaint regarding Fuentes’ conduct was resolved for $90,116.83 in damages based upon allegations that Fuentes effected excessive stock trades in the customer’s account. Moreover, on April 25, 2012, a customer initiated investment related complaint involving Fuentes’ activities was settled for $50,000.00 in damages supported by accusations against Fuentes of making inappropriate investment recommendations to the customer, and making misrepresentations and omitting facts concerning the customer’s investments in exchange traded funds and equity products.
In total, Fuentes has been associated with five different broker dealers, four of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
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