The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Bradley Mascho. According to his publicly available FINRA BrokerCheck report, Bradley Mascho has been the subject of numerous customer disputes.
Bradley Mascho was a Maryland based securities broker. He worked in the securities industry for twenty years. During his career, he was registered with five different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- IDS Life Insurance Company (1997-1999)
- American Express Financial Advisors (1997-1999)
- Legg Mason Wood Walker Incorporated (1999-2006)
- Royal Alliance Associates (2006-2009)
- Western International Securities (2009-2017)
The Allegations
According to findings released by the United States Securities and Exchange Commission, Bradley Mascho pled guilty to “Conspiracy to Commit Securities Fraud” and “Making False Statements” in June 2018. The judgement was officially enter in August 2019 when he was sentenced to 30 months in prison to be followed by three years of supervised release. He was also barred by the SEC from acting as a securities broker in any fashion. These actions were a direct result of Bradley Mascho’s involvement in a private company known as DJB Holdings–founded by Dawn J. Bennett. Bradley Mascho acted as Chief Financial Officer of this company and both him and Dawn Bennett began offering this private security to their member firm customers at Western International Securities. The two of them raised over $20 million from at least 46 investors between December 2014 and July 2017. Dawn Bennett was officially barred by the SEC in 2015; however, she continued with the solicitation of funds from investors through Bradley Mascho.
DJB Holdings started to deteriorate financially after Dawn Bennett had lost a lot of her clientele due to earlier fraudulent activities occurring between 2009 and 2011. She began this new scheme with Bradley Mascho in an attempt to continue to fund her luxurious life style. The two of them accomplished by selling convertible and promissory notes to these customers through a series of misrepresentations and omissions about the company’s financial status, the associated risks, and how the individuals would use the invested funds. These notes were not actually backed by anything. Rather, the invested funds were just being converted by these two individuals for their own personal use. In order to make distribution payments to earlier investors, these two then solicited funds from new investors. Bradley Mascho and Dawn Bennett then made fictitious documents for investors to give them the appearance that the company was successful. The fraudulent scheme perpetrated by these two is what is known as a Ponzi scheme.
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 Bradley Mascho, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
