Gerald Dewes, Formerly of Cadaret, Grant & Co., Barred by FINRA for Refusing to Appear for Testimony

Dewes was being investigated by FINRA based on potential participation in undisclosed private securities transactions and outside business activities.

The Sonn Law Group is investigating allegations that Gerald Dewes engaged in undisclosed private securities transactions and outside business activities. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Gerald Dewes (CRD#: 2465538) was discharged from Cadaret, Grant & Co., in November 2019 after allegations that he sold away from the firm by soliciting client investments into an undisclosed outside business activity, Elite Roasters, Inc., for which he was an officer and a director. Based on this information, FINRA initiated an investigation into Dewes.

In connection with their investigation, FINRA sent a request to Dewes that he appear for on-the-record testimony. Dewes’s attorney sent an email to FINRA’s staff on March 20, 2020, stating that he received FINRA’s request and would not appear for testimony at any time.

By refusing to appear for testimony, Dewes violated FINRA Rule 8210. FINRA sanctioned Dewes in the form of a bar from associating with any FINRA member firm in any capacity.

Dewes has five other disclosures on his BrokerCheck report.

November 2019 Customer Dispute

• Status: Pending
• Allegations: “Independent RIA client [REDACTED] alleged that he heard nothing from advisor Dewes despite repeat promises of 10% returns three years earlier.”

January 2018 Judgment / Lien

• Judgment/Lien Amount: $76,672.00
• Judgment/Lien Type:  Tax

February 2014 Judgment / Lien

• Judgment/Lien Amount: $6,300
• Judgment/Lien Type:  Tax
• Broker Comment: “Was not aware of lien. I amended tax year 2012 return, in November of 2012, and established at that time a payment plan. In September of 2013 I suffered a major [redacted] and missed two payments which automatically defaulted payment plan. At end of 2013 I resumed payment plan and was told that lien would remain in place until balance was satisfied. Original amount owed was $12,076. Paid down to balance shown in item #1 above.”

September 2002 Customer Dispute

• Status: Settled
• Allegations:  “Client alleges broker traded client in a manner inconsistent with the stated investment objectives, and was not adequately supervised by broker-dealer.”
• Damage Amount Requested: $91,000.00
• Settlement Amount: $25,500.00

September 2015 Customer Dispute

• Status: Withdrawn
• Allegations:  “Complaint investigated by NASDR District 8, file no. E8B000192. Signator investors received a letter from an attorney representing the above-referenced customers who alleged that representative marketed pre-IPO series B preferred shares on behalf of a third party.”
• Damage Amount Requested: $654,652.00
• Broker Comment: “Claim was withdrawn without any settlement amount paid out by representative or firm.”

Contact Us Today

The Sonn Law Group is currently investigating allegations that Gerald Dewes engaged in undisclosed private securities transactions and outside business activities. 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.