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 people who have lost money in this fashion may actually be entitled to damages. The law firm of Oakes & Fosher is very interested in hearing from investors who believe this might be them.
Oakes & Fosher is presently investigating the possible misconduct of securities broker Dean Kajouras. According to his publicly available FINRA BrokerCheck report, Dean Kajouras has been the subject of multiple customer disputes.
Dean Kajouras is a New York based securities broker. He has worked in the securities industry for thirty-three years. During his career, he has been registered with ten different securities firms.
His Registrations
- Shearson Lehman Hutton Inc. (1989-1990)
- The Stuart-James Company (1985-1990)
- J. Gregory & Company, Inc. (1990-1993)
- Berkeley Securities Corporation (1993-1994)
- VTR Capital, Inc. (1995-1997)
- IAR Securities Corp. (1997-1998)
- Fairchild Financial Group (1998-1999)
- Fordham Financial Management (1999-2006, 2014-Present)
- Garden State Securities (2006-2008)
- Spartan Capital Securities (2008-2014)
The Allegations
- In February 2013, a customer alleged that Dean Kajouras charged them excessive commissions. This case was settled for $86,842 in damages.
- In September 2014, Dean Kajouras was discharged from his position at Spartan Capital Securities following the allegations that he violated a commission fee agreement.
- In March 2016, a customer alleged that Dean Kajouras made unsuitable investment recommendations, churned their account, over-concentrated their account, executed unauthorized transactions, handled their account negligently, breached contract, misrepresented material facts, and missed opportunities.
- In October 2016, Dean Kajouras was sanctioned by the state of Massachusetts. The findings in this matter state that he over-concentrated a retired investor’s account in a single security. Due to his alleged actions, he was forced to pay $60,000 in restitution.
- In July 2017, a customer alleged that Dean Kajouras charged them excessive fees and commissions, recommended unsuitable securities, over-traded their account, over-concentrated their account, and breached contract.
- In June 2019, a customer alleged that Dean Kajouras misrepresented material facts, breached contract, breached his fiduciary duty, engaged in common law fraud, and recommended unsuitable securities. This case is currently pending. The customer is seeking $1.6 million in damages.
Over-Concentration
Securities brokers have an obligation to always act in the best interests of their customers. Part of this means investing them in a wide variety of securities. When a customer’s portfolio is over-concentrated in a single security, it can be detrimental should the value of that security go down. When an investor’s portfolio is adequately diversified, they do not lose everything when a single security they are invested in goes down significantly.
Oakes & Fosher Can Help
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Dean Kajouras, please contact Oakes & Fosher for a free and private consultation.
