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Dennis Thurman Permitted to Resign from First Allied

Dennis ThurmanPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 9, 2016 indicate that South Dakota-based Arete Wealth Management broker/adviser Dennis Thurman has received customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Thurman (CRD# 2342398).

Dennis Thurman has spent 23 years in the securities industry and has been registered with Arete Wealth Management in Sioux Falls, South Dakota since January 2016. Previous registrations include First Allied Securities in Sioux Falls, Dakota (1994-2015) and First Affiliated Securities in La Jolla, California (1993-1995). He is a registered broker and investment adviser with five US states: California, Minnesota, South Dakota, Washington, and Wisconsin.

According to his BrokerCheck report, Dennis Thurman has received two customer complaints and four judgments or liens.

In December 2015, Dennis Thurman was “permitted to resign” from his position at First Allied Securities following allegations he “failed to disclose [an] unsatisfied lien.”

In 2013, a customer alleged Dennis Thurman, while employed at First Allied Securities, committed fraud, acted negligently, breached his fiduciary duty, violated provisions of the Securities Exchange Acts of 1933 and 1934, violated South Dakota law, and breached contract. The complaint settled in 2014 for $1,780,000.

In 2012, a customer alleged Dennis Thurman, while employed at First Allied Securities, committed fraud, misrepresented material facts, breached his fiduciary duty, violated South Dakota law, acted negligently, and breached contract. The complaint settled in 2014 for $94,000.

In 2013, the Internal Revenue Service filed a tax lien totaling $40,440 against Dennis Thurman. The lien remains outstanding.

In 2013, the Internal Revenue Service filed a tax lien totaling $20,561.59 against Dennis Thurman. The lien remains outstanding.

In 2012, the Internal Revenue Service filed a tax lien totaling $537,871 against Dennis Thurman. The lien remains outstanding.

If you have lost money investing with Dennis Thurman, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recoup your losses. All cases are taken on contingency, which means Fitapelli Kurta only get paid if and when you collect money.  Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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