Craig Dima of Ronkonkoma, New York Barred by FINRA
Have you lost money with financial advisor Craig Dima of Ronkonkoma, New York? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Craig D. Dima. FINRA filed a complaint against Dima, alleging that he engaged in unauthorized trading in the account of a senior investor. FINRA further alleged that Dima made a number of unsuitable trades when he sold the senior’s stock in Colgate and then repurchased Colgate in the same account. FINRA alleged that this caused the senior investor mark-ups, mark-downs, and transaction costs of about $376,000, deprived the investor of $127,000 in dividends, and caused her $72,000 in trading losses.
In February 2017, FINRA determined that Craig Dima violated NASD and FINRA conduct rules. As a result, FINRA barred Dima from the securities industry.
Craig Dima was a financial advisor and registered representative of K.C. Ward Financial, Inc. from September 2009 to the February 2017. He worked at a branch office in Ronkonkoma, New York. According to his BrokerCheck report, Dima is the subject of at least five customer complaints; two other regulatory investigations from the 1990s; two terminations from prior brokerage firms; and a federal tax lien of $57,000.
Brokerage firms like K.C. Ward Financial have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in New York. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Dima, Craig FINRA Order
Click to view: Dima, Craig FINRA Comp (1)
Click to view: Dima, Craig BrokerCheck 8.19.16 (1)
IF YOU LOST MONEY WITH CRAIG DIMA OR K.C. WARD FINANCIAL, PLEASE CONTACT US AT (720) 599-3505 FOR A FREE EVALUATION OF YOUR CASE.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.