The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Dain Stokes. According to his publicly available FINRA BrokerCheck report, Dain Stokes has been the subject of a customer complaint and a regulatory sanction.
Dain Stokes was a New Hampshire based securities broker. He worked in the securities industry for twenty-one years. During his career, he was registered with four different securities firms. He is no longer working as a registered securities broker in any fashion.
His Registrations
- IDS Life Insurance Company (1998-2000)
- American Express Financial Advisors (1998-2000)
- Edward Jones (2000-2009)
- LPL Financial (2009-2019)
The Allegations
- In August 2019, Dain Stokes was officially sanctioned by the New Hampshire Department of State Bureau of Securities Regulation. The findings in this matter state that he solicited over $200,000 from a member firm customer for an undisclosed investment project. However, Stokes allegedly did not utilize these funds for the project but rather just provided the customer with unsecured promissory notes that promised returns. Due to these alleged actions, Dain Stokes was forced to pay the customer $201,000 in restitution, was fined an additional $20,000, and suspended indefinitely from acting as a securities broker in any fashion.
- In October 2019, a customer alleged that Dain Stokes placed them in unsuitable investments and misrepresented said investments. This case is currently pending. The customer is seeking an undisclosed amount in damages.
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 it entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Dain Stokes, 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.
