Churing and Excessive Activity

Danilo Dereck Fuentes of Dayton Maryland a stockbroker employed by Dawson James Securities Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $1,377,280.02 in damages founded on accusations that (1) transactions were effected by Fuentes without authorization and without Dawson James’ supervision (2) misrepresentations had been made to the customer concerning over-the-counter equities and direct investments and (3) investment recommendations were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03808 (Nov. 8, 2018).

Fuentes is referenced in eight more customer initiated investment related disputes containing allegations of his wrongdoing while associated with securities broker dealers including VTR Capital Inc., Ladenburg Thalmann Co. Inc., Dawson James Securities and SW Bach Company.

FINRA Public Disclosure reveals that a customer initiated investment related complaint involving Fuentes’ conduct was settled for $90,116.83 in damages based upon allegations that Fuentes effected excessive stock trades in the customer’s account while registered with SW Bach Company.

Another customer initiated investment related complaint pertaining to Fuentes’ conduct was settled for $50,000.00 in damages supported by allegations of bad investment advice as well as misrepresentations and omissions being made by Fuentes concerning exchange traded funds or stocks when he was employed by Dawson James Securities.

Fuentes is the subject of another customer initiated investment related arbitration claim where the customer was awarded compensatory damages based upon Fuentes and Dawson James Securities being found liable for the customer’s losses. FINRA Arbitration No. 17-01756 (Feb. 1, 2018).

According to the claim, a contract was breached and so was a fiduciary duty that Fuentes owed to the customer. The claim also alleged that fraudulent misrepresentations were made concerning Tonix Pharma and that the purchase of stocks and warrants failed to be suitable.

Fuentes has been registered with Dawson James Securities since May 23, 2007. He has been associated with at least two different securities broker dealers who are defunct or who have been expelled by securities regulators for violation of federal securities laws or FINRA rules. #COCKROACH