Frank Dietrich Allegedly Sold $$10.8 Million of Woodbridge Ponzi Scheme Notes to 58 Investors; Dietrich Allegedly Took in $261,000 in Commissions from Said Sales
Frank Dietrich allegedly sold $10.8 million worth of Woodbridge Ponzi notes to 58 investors, 30 of whom were firm customers, according to a FINRA Letter of Acceptance, Waiver and Consent (AWC) under review by investor rights attorney Alan Rosca.
Frank Dietrich allegedly took in $261,000 in commissions from said sales, FINRA notes.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Frank Dietrich’s alleged involvement in the Woodbridge Ponzi scheme. The Goldman Scarlato & Penny PC law firm represents other Woodbridge investors and we would like to talk to investors who purchased Woodbridge notes through Dietrich.
Investors who believe they may have lost money in activity related to Frank Dietrich’s alleged involvement in the Woodbridge Ponzi scheme are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Frank Dietrich Barred by FINRA
Frank Dietrich, based on the aforementioned alleged behavior, has been barred from association with any FINRA member in any capacity, according to the aforementioned AWC under review by investor rights attorney Alan Rosca.
Frank Dietrich was a registered representative with Quest Capital Strategies, Inc. in Lake Forest, California from March 2013 until he was allowed to resign in April 2018 for alleged failure to fully disclose outside business activities and sale of unapproved product, according to Dietrich’s FINRA BrokerCheck report.
Brokers such as Dietrich have an obligation to tell their broker-dealers that they are selling private securities or participating in a private securities transaction, yet Dietrich allegedly did not tell Quest Capital Strategies Inc. that he was allegedly selling the Woodbridge notes, according to the AWC. .
Industry rules state that brokers must tell their broker-dealers they are selling private securities or participating in a private securities transaction.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated, and that Deitrich reportedly consented to the FINRA settlement without admitting to or denying FINRA’s findings.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Frank Dietrich’s alleged involvement in the Woodbridge Ponzi scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions. Investors who believe they lost money as a result of Frank Dietrich’s alleged involvement in the Woodbridge Ponzi may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.