What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: August 23, 2016

According to a recent disciplinary proceeding with the Financial Industry Regulatory Authority (FINRA), Craig David Dima was accused of making fraudulent misrepresentations and omissions to his firm, K.C. Ward Financial. Mr. Dima made approximately 41 unauthorized sales of Colgate-Palmolive Company stock in the account of a customer, who was a senior. This occurred from June 2010 until August 2015. Dima falsely told the customer that the sales were the result of computer issues, human error or statements to that effect, rather than unauthorized trades. He also, on 11 separate occasions, sold all or almost all of the “blue chip” dividend-paying stock and then purchased the same stock in the customer’s account. Because of these trades, the senior client paid costs of approximately $376,000 and was deprived of approximately $127,000 in dividend payments. The client also suffered losses of approximately $72,000 from three of the unauthorized, sell/buy sequences of Colgate transactions.

According to his online, FINRA BrokerCheck report, Dima was registered with Lew Lieberbaum & Co., RM Stark & Co., Meyers Pollock Robbins, Inc., Andrew, Alexander, Wise & Company Inc., Foster Jeffries Co., Inc., La Jolla Capital Corp., IAR Securities Corp., Ash Financial Corp, Schneider Securities, Joseph Charles & Assoc., Sterling Financial Investment Group, First Montauk Securities, Harrison Securities, LH Ross & Company, Andrew Garrett Inc., and American Capital Partners. He is currently registered with KC Ward Financial in Ronkonkoma, New York and has been since September 2009. He has five customer disputes against him, one of which is currently pending, and one criminal disposition. If you or someone you know lost money with Dima, please call our securities law offices in Chicago today. We may be able to bring a case against his firm, KC Ward Financial, in the FINRA arbitration forum on a contingency fee basis to help you recover your investment losses. The call to us is free with no obligation.


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