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Gregory Dean: Pending SEC Charges, Customer Complaints

Gregory Dean Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on April 29, 2019 indicate that New York-based Worden Capital Management broker Gregory Dean has received numerous resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Dean (CRD# 5822512).

Gregory Dean has spent 14 years in the securities industry and has been registered with Worden Capital Management in Rockville Centre, New York since 2014. Previous registrations include J.D. Nicholas & Associates in Syosset, New York (2007-2014); American Capital Partners in Wantagh, New York (2005-2007); MetLife Securities in New York, New York (2005); and Metropolitan Life Insurance Company in New York, New York (2005). He has passed five securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on June 23, 2005; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 7 (General Securities Representative Examination), which he obtained on June 7, 2005; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on March 9, 2005; and Series 24 (General Securities Principal Examination), which he obtained on January 28, 2008. He is a registered broker in 35 US states and territories.

According to his BrokerCheck report, he has received 11 customer complaints, two pending customer complaints, and one pending SEC action.

In February 2019 a customer alleged Gregory Dean, while employed at Worden Capital Management, churned the account, executed excessive trades, and recommended unsuitable transactions. The customer is seeking more than $70,700 in damages in the pending complaint.

In 2017 a customer alleged Gregory Dean, while employed at Worden Capital Management, churned investments, recommended unsuitable securities, breached his fiduciary duty, committed fraud, breached contract, and was negligent in his supervisory duties. The complaint settled in 2018 for $60,000.

In 2017 a customer alleged Gregory Dean, while employed at Worden Capital Management and JD Nicholas & Associates, recommended unsuitable investments, executed excessive trades, abused margin, failed in his supervisory duties, breached his fiduciary duty, acted negligently, fraudulently misrepresented material facts, and breached contract. The complaint settled for $55,000.

In 2017 he was named respondent in SEC charges alleging that he and two other individuals fraudulently used an unsuitable “in-and-out trading strategy” to generate high commissions. According to the complaint, Mr. Dean “recommended a trading strategy to 27 customers without any reasonable basis to believe that the strategy was suitable for anyone” and “should have known that, in view of the excessive in-and-out trading and the cost structure, his strategy was bound to lose money” in the accounts. The charges remain pending.

In 2015 a customer alleged he, while employed at JD Nicholas & Associates, recommended unsuitable trades, churned the account, and failed in his supervisory duties. The complaint settled for $200,000.

If you or someone you know has a complaint regarding Gregory Dean, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup lost funds. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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