The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Gerald Dewes. Gerald Dewes was a New York based securities broker. He worked in the securities industry for twenty-five years. During his career, he was registered with eight different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations 

  • Thomas James Associates (1994-1995)
  • Securities America (1995-1996)
  • John Hancock Mutual Life Insurance Company (1997)
  • Signator Investors (1997-2000)
  • Cambridge Investment Research (2000-2002)
  • Northeast Securities (2002-2005)
  • Lincoln Financial Securities Corporation (2004-2014)
  • Cadaret, Grant & Co. (2014-2019)

The Allegations

According to his publicly available FINRA BrokerCheck report, Gerald Dewes engaged in selling away by soliciting investors to invest in an outside business entity that he managed. Due to these alleged actions, Gerald Dewes was discharged from his position at Cadaret, Grant & Co. In November 2019, a customer alleged that Gerald Dewes had repeatedly promised him ten percent returns on their investment in this outside entity. However, Dewes allegedly stopped communicating with this investor.

What Does This Mean?

Securities brokers are not allowed to recommend private investments to their customers without authorization from their member firm. This is because private investments can often cause serious financial harm to investors. It is the broker’s registered broker dealer that is responsible for preventing this from occurring. The securities firm is not absolved from liability because the broker fails to disclose that they are engaging in these private activities. Securities firms need to have adequate procedures in place designed to monitor its registered brokers and prevent them from engaging in any unauthorized and potentially harmful activities.

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 Gerald Dewes, 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.