Former CFD Investments, Inc. Broker Dana Vietor Investment Loss Options
Posted on Wednesday, September 8th, 2021 at 9:35 pm
Erez Law is currently investigating former CFD Investments, Inc. broker Dana Vietor (CRD# 873129) faces multiple customer complaints regarding promissory notes investment losses. Vietor was registered with CFD Investments, Inc. in Dallas, Texas from 2016 to 2018 when he was terminated regarding “Financial Adviser engaged in private securities transactions without providing information to the firm or seeking approval for the transactions. Financial adviser submitted annual questionnaires to the firm advising the firm that he was not engaging in private securities transactions.” Previously, Vietor was registered with Oakbridge Financial Services in Nisswa, Minnesota from 2014 to 2016.
In March 2020, FINRA barred Vietor after he “Without admitting or denying the findings, Vietor consented to the sanction and to the entry of findings that he engaged in the sale of promissory notes called deposit agreements in connection with customers totaling more than $3 million without disclosing and receiving approval from his member firms for each individual private securities transaction. The finding stated that Vietor, along with other business partners, was engaged in a start-up business venture that required funding. The deposit agreements raised funds for entities associated with the business venture. Vietor is a member of the management team that manages these entities and has membership interests in each. Therefore, Vietor received indirect selling compensation.”
Vietor has been the subject of nine customer complaints between 2010 and 2021, one of which was denied and one was closed without action, according to his CRD report. Recent complaints are regarding:
June 2021. “The complaint alleged many activities in connection with private securities transactions conducted by Vietor away from CFD. Those allegations include the following: Fraud and non-disclosure, Negligent Misrepresentation, Breach of Fiduciary Duty, Negligence, Breach of Contract, Failure to Supervise/Respondeat Superior, and Violations of the Iowa Securities Act.” The customer is seeking $2,658,320 in damages and the case is currently pending. The complaint was regarding private securities transactions and took place while Vietor was registered with CFD Investments, Inc., Cape Securities, Inc., Oakbridge Financial Services, and Allied Beacon Partners, Inc.
April 2021. “Claimants allege the sale of private securities transactions by the representative, and breach of fiduciary duty, violations of the Iowa Securities Act, Negligence, common law fraud, and breach of contract in connection with those sales.” The customer is seeking $108,667 in damages and the case is currently pending. The complaint took place while Vietor was registered with CFD Investments, Inc. and was regarding private securities transactions.
March 2021. “Client alleged that registered representative engaged in private securities transactions away from CFD. The investments were promissory notes issued by a company controlled by the registered representative.” The customer is seeking $609,852 in damages and the case is currently pending. The complaint was regarding promissory notes and private securities transactions and took place while Vietor was registered with CFD Investments, Inc.
June 2019. “Claimants allege that financial adviser engaged in improper outside business activities, making unsuitable investment recommendations, fraudulent and negligent misrepresentations and omissions of material information, Fraud, Negligence, Breach of Fiduciary Duty, and Breach of Contract in connection with the sale of variable annuities and a private placement investment.” The customer sought $75,000 in damages and the case was settled for $32,600. The complaint was regarding real estate securities and variable annuities and took place while Vietor was registered with Cape Securities, Inc., Oakbridge Financial Services, and CFD Investments, Inc.
April 2017. “Misrepresentation and Non-Suitability for Variable Annuities, a Non-Traded REIT and a Direct Investment.” The customer sought $300,000 in damages and the case was settled for $18,000. The complaint was regarding real estate securities and variable annuities and took place while Vietor was registered with Cape Securities, 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, CFD Investments, Inc. may be liable for investment or other losses suffered by Vietor’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.