The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Dennis C. Lee. According to his publicly available FINRA BrokerCheck report, Dennis C. Lee has been the subject of multiple customer complaints.
Dennis C. Lee was a New York based securities broker. He worked in the securities industry for twenty-one years. During his career, he was registered with two different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- The Equitable Life Assurance Society of the United States (1993-2000)
- AXA Advisors (1993-2014)
The Allegations
- In February 2015, a customer alleged that Dennis C. Lee made investments that were unsuitable for them based on their financial needs. The customer also alleged that Dennis C. Lee transferred funds to a new account without their knowledge or consent. This case was settled for $100,000 in damages.
- In April 2015, Dennis C. Lee was terminated from his position at AXA Advisors following allegations of failing to disclose financial issues, mismarking trade tickets, and placing securities trades away from the firm.
- In September 2015, another customer alleged that Dennis C. Lee made unsuitable investment recommendations. This case was settled for $100,000 in damages.
- In November 2015, another customer alleged that Dennis C. Lee recommended unsuitable securities. The customer alleged that these investments were unsuitable given their financial circumstances, investment objectives, and risk tolerance level. This case was settled for $40,000 in damages.
- In January 2017, Dennis C. Lee was officially sanctioned by FINRA. The findings in this matter state that Dennis C. Lee failed to disclose outside brokerage accounts to his member firm. Due to these allegations, he was fined $15,000 and suspended from acting as a securities broker in any fashion for a period of nine months.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Dennis C. Lee, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.
