{"id":3877,"date":"2016-10-25T21:38:25","date_gmt":"2016-10-26T02:38:25","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=3877"},"modified":"2022-03-23T10:41:18","modified_gmt":"2022-03-23T15:41:18","slug":"finra-bans-dallas-broker-recommending-ponzi-scam-investors","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/","title":{"rendered":"FINRA Bans Dallas Broker For Recommending Ponzi Scheme to Investors"},"content":{"rendered":"<p>\t\t\t\tThe Financial Industry Regulatory Authority (FINRA) has banned Stuart G. Dickinson, a Dallas broker, from the securities industry for recommending that customers back a Ponzi scheme. At the time, Dickinson was with \u00a0WFG Investments. The firm fired him in 2013.<\/p>\n<p>In addition to the bar, Dickinson must pay seven customers $924K in restitution over the <a href=\"https:\/\/texas.stockbroker-fraud.com\">Texas securities fraud<\/a>. According to FINRA\u2019s default decision notice, Dickinson failed to perform the reasonable due diligence on ATM Financial services (ATMF) and did not detect the red flags indicating that it was a sham. As a result, said the self-regulatory organization, investors lost $1.02M.<\/p>\n<p>It was in 2007 that Dickinson sold over $1M in limited partnership interests in ATM Alliance. He had formed contracts with the company to service and manage ATM machines in a number of locations. Dickinson established a general partnership to raise funds for the ATM investments and he became a 90% owner while his supervisor Trent W. Schneiter became a 5% owner. As part of the agreement, they would earn 20% off what the banking machines made.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/#more-3877\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Industry Regulatory Authority (FINRA) has banned Stuart G. Dickinson, a Dallas broker, from the securities industry for recommending that customers back a Ponzi scheme. At the time, Dickinson was with \u00a0WFG Investments. The firm fired him in 2013. In addition to the bar, Dickinson must pay seven customers $924K in restitution over the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792,3750],"tags":[3688,3689],"class_list":["post-3877","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","category-texas-securities-fraud","tag-atm-alliance","tag-wfg-investments"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Bans Broker For Recommending Ponzi Scheme &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"(FINRA) has banned Stuart G. Dickinson, a Dallas broker, from the securities industry for recommending that customers back a Ponzi scheme.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Bans Broker For Recommending Ponzi Scheme &#8212; Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"(FINRA) has banned Stuart G. Dickinson, a Dallas broker, from the securities industry for recommending that customers back a Ponzi scheme.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA Bans Broker For Recommending Ponzi Scheme &#8212; Investor Lawyers Blog","description":"(FINRA) has banned Stuart G. 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Dickinson, a Dallas broker, from the securities industry for recommending that customers back a Ponzi scheme.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"FINRA Bans Dallas Broker For Recommending Ponzi Scheme to Investors","datePublished":"2016-10-26T02:38:25+00:00","dateModified":"2022-03-23T15:41:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/"},"wordCount":446,"keywords":["ATM Alliance","WFG Investments"],"articleSection":["Ponzi Scams","Texas Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/","url":"https:\/\/www.investorlawyers.com\/blog\/finra-bans-dallas-broker-recommending-ponzi-scam-investors\/","name":"FINRA Bans Broker For Recommending Ponzi Scheme &#8212; Investor Lawyers Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-10-26T02:38:25+00:00","dateModified":"2022-03-23T15:41:18+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"(FINRA) has banned Stuart G. 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