{"id":4195,"date":"2017-02-27T20:25:03","date_gmt":"2017-02-28T02:25:03","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4195"},"modified":"2022-03-25T13:35:44","modified_gmt":"2022-03-25T18:35:44","slug":"elder-financial-fraud-ex-k-c-ward-financial-rep-barred-15m-unsuitable-investments-73-year-olds-account-raymond-james-ordered-pay-retirees-762k-penny-stock-case-sti","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/elder-financial-fraud-ex-k-c-ward-financial-rep-barred-15m-unsuitable-investments-73-year-olds-account-raymond-james-ordered-pay-retirees-762k-penny-stock-case-sti\/","title":{"rendered":"Elder Financial Fraud: Ex-K.C. Ward Financial Rep. Barred Over $15M in Unsuitable Investments"},"content":{"rendered":"

FINRA Bars Registered Rep For $15M In Unauthorized Trades <\/strong><\/h2>\n

The Financial Industry Regulatory Authority has barred Craig David Dima, a former registered representative with KC Ward Financial, for making about $15M in unsuitable and unauthorized trades<\/a> in the account of a 73-year-old retiree. According to the self-regulatory organization, there were 11 times when Dima sold nearly all of the customer\u2019s stock in Colgate-Palmolive that she\u2019d accrued from working with the company for nearly thirty years and he did that without permission.<\/p>\n

After the elderly client told Dima not to sell the stock, he proceeded to sell them anyways. When the customer confronted Dima, he purportedly misrepresented that a computer or technical mistake had caused the sale. Meantime, the client was \u201cdeprived\u201d of the \u201csubstantial dividends\u201d from the Colgate shares she used to own. Dima charged the customer over $375K in fees, mark-downs, and mark-ups.<\/p>\n

By settling, Dima is not denying or admitting to FINRA\u2019s charges of elder financial fraud.<\/p>\n

Continue Reading \u203a<\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"

FINRA Bars Registered Rep For $15M In Unauthorized Trades The Financial Industry Regulatory Authority has barred Craig David Dima, a former registered representative with KC Ward Financial, for making about $15M in unsuitable and unauthorized trades in the account of a 73-year-old retiree. According to the self-regulatory organization, there were 11 times when Dima sold […]<\/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":[3752,3858,3922,4047,4039,3758,3803,3884],"tags":[],"class_list":["post-4195","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-morgan-keegan","category-municipal-bonds","category-oil-and-gas-claims","category-puerto-rico-bond-funds","category-raymond-james","category-senior-investors","category-variable-annuities"],"yoast_head":"\nElder Financial Fraud: Ex-K.C. Ward Financial Rep. 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