Gerald Dewes, formerly a registered representative with Cadaret, Grant & Co., Inc. (CRD#:2465538), has been terminated from his position with that firm for allegedly selling away from the firm, according to his BrokerCheck record accessed on January 7, 2020.
What happened for Gerald Dewes to be terminated for allegedly selling away from his member firm? According to his BrokerCheck report, Gerald Dewes “sold away from the firm by soliciting client investments into an undisclosed outside business activity, Elite Roasters, Inc. for which he was an officer and director.”
Gerald Dewes’s recent termination for failing to disclose his interest in Elite Roasters, Inc. is far from the only disclosure on his BrokerCheck record. On November 8, 2019, a client filed a customer complaint against Gerald Dewes,, alleging that he heard nothing from advisor [Gerald Dewes] despite repeat promises of 10% returns three years earlier.” The dispute is pending.
In 2002, a client alleged that Gerald Dewes “traded client in a manner inconsistent with the stated investment objectives, and was not adequately supervised by broker dealer.” The client originally requested $91,000 in damages, but the matter was ultimately settled for $25,500.
Gerald Dewes is not currently registered as a broker. Over his 25-year career as a broker, however, Gerald Dewes worked for eight brokerage firms:
- Cadaret, Grant & Co., Inc. (CRD#: 10641) in East Amherst, New York
- Lincoln Financial Securities Corporation (CRD#: 3870) in Williamsville, New York
- Northeast Securities, Inc. (CRD#: 25996) in Mitchfield, New York – SEC registration status terminated on January 29, 2019
- Cambridge Investment Research, Inc. (CRD#: 39543) in Fairfield, Iowa
- Signator Investors, Inc. (CRD#: 468) in Boston, Massachusetts – SEC registration terminated on January 29, 2019
- John Hancock Mutual Life Insurance Company (CRD#: 5181) in Boston, Massachusetts – SEC registration status terminated on July 27, 1997
- Securities America, Inc. (CRD#: 10205) in Lavista, Nebraska
- Thomas James Associates, Inc. (CRD#: 15609) in Rochester, New York – expelled by FINRA on March 1, 1999
If you invested with Gerald Dewes and have concerns about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn about your options for recovery. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation.