Were you the victim of former Signator Investors, Inc. broker Dee Brooks (CRD# 2559233)? Brooks was registered with Signator Investors, Inc. in Huntington Beach, California from 2015 to 2018, when he was terminated regarding, “The Firm was investigating the representative to determine her level of involvement in the sale of unregistered securities.”
In June 2020, FINRA barred Brooks after he, “consented to the sanction and to the entry of findings that she engaged in private securities transactions without providing prior notice to or obtaining approval from her member. The findings stated that Brooks solicited investors to purchase more than $1.77 million in securities in a purported real estate investment fund and in a company representing itself as a structured cash flow investment company. Brooks, through an entity that she worked with as an outside business, solicited investors, over half of whom were (sp) customers of her firm, to invest $906,497 in the fund’s promissory notes. Later, the fund filed a voluntary Chapter 11 bankruptcy petition. The U.S. District Court for the Southern District of Florida issued final judgments against, among others, the fund and its former owner. Those judgments required the fund and its owner to, among other things, disgorge their ill-gotten gains and pay a civil penalty. In addition, Brooks sold $866,895 in company purchase agreements to investors, most of whom were firm customers. Later, the investment company ceased business, owing nearly $300 million in unpaid investor payments. In a subsequent indictment, the U.S. charged the investment company and its owner with conspiracy to engage in mail and wire fraud related to the investment company’s operations.”
Brooks has been the subject of one customer complaint, according to his CRD report:
July 2018. “Statement of claim alleges that the representative recommended that the complainant invest her IRA monies in a fraudulent Ponzi scheme.” The customer sought $118,000 in damages and the case was settled for $75,000. The complaint was regarding Woodbridge Mortgage Investment Fund losses and took place while Brooks was registered with Signator Investors, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Signator Investors, Inc. may be liable for investment or other losses suffered by Brooks’ customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.