Ben Dembla was an Illinois based securities broker. He worked in the securities industry for fifteen years. He spent his entire career registered with just Merrill Lynch. He is no longer working as a registered securities broker in any fashion.

Ben Dembla’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.

In January 2016, customers alleged unsuitable investment recommendations. The alleged transgressions taking place between January 2013 and July 2015. This case was settled for $200,000 in damages.

In January 2017, a customer alleged unsuitable investment recommendations. The alleged transgressions taking place between January 2012 and April 2016. This case was settled for $110,000 in damages.

Also in January 2017, another customer alleged unsuitable investment recommendations. The alleged transgressions taking place between May 2012 and September 2016. This case was settled for $167,000 in damages.

In October 2017, a customer alleged excessive trading and unsuitable investment recommendations. The alleged transgressions taking place between December 2010 and December 2015. This case was settled for $95,000 in damages.

In August 2016, Dembla was discharged from his position at Merrill Lynch. This termination followed allegations that he circumvented Firm limitations on the accumulation of mutual fund shares in customer accounts. Essentially he entered and then canceled fictitious mutual fund sell orders in order to work around the restrictions his firm had on the amount of Class B mutual fund shares an investor can own. Dembla was later barred by FINRA from acting as a securities broker in any fashion in February 2019 due to these alleged actions.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Ben Dembla, please contact Oakes & Fosher for a free and private consultation.