Dana Bruce Vietor, Formerly of CFD Investments, Named in Customer Disputes Alleging Breach of Fiduciary Duty, Unsuitability, and Other Misconduct

INVESTORS: Former CFD Investments broker Dana Bruce Vietor was named in multiple customer disputes alleging breach of fiduciary duty, violation of FINRA suitability rules, and fraud.

Dana Bruce Vietor (CRD: 873129) was registered as a broker with CFD Investments from 2016 until 2018. Vietor was previously registered as a broker with Morgan Stanley from 2015 until 2019.

Vietor has eighteen disclosures on his BrokerCheck report. Two customer disputes filed against Vietor was denied, one was closed with no action taken. The disclosures that occurred prior to 2019 are detailed below.

February 2022 Customer Dispute

Status: Settled

Allegations: In connection with the sale of private investments in the form of deposit agreement, in companies that respondent had ownership or control of, it is alleged that Dana Vietor engaged in the breach of fiduciary duty, violation of FINRA suitability rules, and fraud. With respect to all other respondents, who are identified as control persons in the allegations, it was alleged that they engaged in Failure to Supervise, Negligent Supervision, and Aiding and Abetting Fraud.

Damage Amount Requested: $345,000.00

Settlement Amount: $210,000.00

January 2022 Customer Dispute

Status: Settled

Allegations: It is alleged that Dana Vietor engaged in a private securities transaction away from the firm. Complaint alleges that the transaction was not suitable, and that the firm failed to supervise in connection with the transaction.

Damage Amount Requested: $41,983.50

Settlement Amount: $25,000.00

December 2021 Customer Dispute

Status: Pending

Allegations: On or around 2016-2017, Dana Vietor allegedly sold promissory notes to the complainants. The notes involved companies owned or controlled by Vietor. These were not sold through the broker/dealer.

Damage Amount Requested: $75,000.00

September 2021 Customer Dispute

Status: Settled

Allegations: Misrepresentation, unsuitable investments, fraudulent investments

Damage Amount Requested: $250,000.00

Settlement Amount: $75,000.00

September 2021 Customer Dispute

Status: Settled

Allegations: Vietor engaged in the sale of private investments to customers. Allegations included Selling away, sale of unregistered securities, suitability, over concentration, customer-specific suitability, fraudulent misrepresentations or omissions, duty to warn, various finra rules, failure to supervise and respondeat superior.

Damage Amount Requested: $1,107,000.00

Settlement Amount: $457,000.00

June 2021 Customer Dispute

Status: Award / Judgment

Allegations: Vietor was named in a customer complaint that asserted the following causes of action: misrepresentation, fraud – nondisclosure, negligent misrepresentation, breach of fiduciary duty, negligence, breach of contract, failure to supervise/respondeat superior, violation of the Iowa Securities Act, federal and state control person liability, express indemnification, and implied or equitable indemnity.

Damage Amount Requested: $2,658,320.00

April 2021 Customer Dispute

Status: Settled

Allegations: 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.

Damage Amount Requested: $108,667.00

Settlement Amount: $110,000.00

March 2021 Customer Dispute

Status: Settled

Allegations: 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.

Damage Amount Requested: $609,852.00

Settlement Amount: $900,000.00

March 2020 Regulatory Judgment

Status: Final

Initiated By: FINRA

Allegations: 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.

Resolution: Acceptance, Waiver & Consent (AWC)

Bar: Bar (Permanent)

Registration Capacities Affected: All Capacities

Duration: Indefinite

Start Date: 3/23/2020

The Sonn Law Group is currently investigating allegations surrounding Dana Bruce Vietor. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.