Former Vision Brokerage Services, LLC Broker Dwight Dykstra Investment Loss Options
Posted on Monday, July 19th, 2021 at 4:20 pm
Were you the victim of former Vision Brokerage Services, LLC broker Dwight Dykstra (CRD# 1028210)? Dykstra was registered with Vision Brokerage Services, LLC in Maitland, Florida from 2013 to 2019.
In October 2020, FINRA was sanctioned to pay $10,000 in civil and administrative penalties and fines and $67,500 in disgorgement and he was suspended for one year. This was regarding: “Dykstra consented to the sanctions and to the entry of findings that he participated in private securities transactions without providing prior written notice to his member firm. The findings stated that, while registered through his firm, Dykstra participated in private securities transactions by soliciting investments in promissory notes issued by a limited liability company (the Issuer) raising capital to develop a senior living real estate project. Dykstra contacted prospective investors, some of whom were customers or former customers of the firm, to inform them of the investment opportunity. Dykstra then provided marketing materials to interested investors, participated in communications between the Issuer and interested investors, and facilitated the sale of approximately $2 million of promissory notes to 21 investors. The Issuer paid Dykstra $67,500 in selling compensation for his participation in the transactions. Additionally, Dykstra and his wife invested $100,000 in a promissory note sold by the Issuer. The promissory notes sold by the Issuer were securities. Dykstra’s participation in the promissory note securities transactions was outside the regular course and scope of his employment with the firm. While registered through the firm Dykstra, after giving notice to the firm and receiving its approval, sold membership interests in a fund formed to invest in the same senior living real estate project. Dykstra, however, did not provide any prior notice to the firm of the promissory note transactions or of his role in those transactions.”
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, Vision Brokerage Services, LLC may be liable for investment or other losses suffered by Dykstra’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.