The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Roger Denha. Roger Denha was a Michigan based securities broker. He worked in the securities industry for twenty-three 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
- T.I. Investments (1994-1995)
- The Ohio Company (1995-1996)
- Linsco/Private Ledger Corp. (1996-2003)
- Brandt, Kelly & Simmons Securities (2003-2017)
The Allegations
Roger Denha’s publicly available FINRA BrokerCheck report shows that he was sanctioned in August 2018 by the United States Securities and Exchange Commission. The findings in this matter state that Roger Denha engaged in a fraudulent trade allocation scheme–also known as “cherry-picking.” What this means is that Roger Denha allocated specifically profitable trades to accounts that he favored, and, in turn, allocated unprofitable trades to the accounts of clients he saw as unfavorable. Schemes like this are executed by the broker by the them buying all the securities in a single account and then waiting to move the securities until after the securities have either increased or decreased in value. Due to his alleged actions, he was barred by FINRA from acting as a securities broker in any fashion, fined over $200,000, and forced to pay over $400,000 in disgorgement.
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 enitre legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Roger Denha, please contact Oakes & Fosher for a fee and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.
