DID FRANK DIETRICH CAUSE YOU INVESTMENT LOSSES?
Frank Dietrich Formerly With Quest Capital Strategies, Inc. Has 9 Customer Complaints For Alleged Broker Misconduct
Who is Frank Dietrich formerly with Quest Capital Strategies, Inc.?
Frank Dietrich (CRD #2506091) who was formerly registered with Quest Capital Strategies, Inc. and located in Laguna Hills, California is a subject of one of our many securities industry sales practice abuse investigations.
Frank Dietrich has been the subject of an investigation by FINRA for allegedly soliciting investors to purchase promissory notes relating to or real estate investment fund without the knowledge of his employer. He allegedly sold over $10 million of these notes to investors and received $260,000 in commissions. The real estate fund filed bankruptcy and Frank Dietrich consented to a permanent bar in all capacities.
Frank Dietrich Customer Complaints
Frank Dietrich has been the subject of 9 customer complaints that we know about. One arbitration award was entered against Quest Capital Strategies, Inc. in the amount of over $275,000 for Frank Dietrich’s alleged misconduct causing investors losses. Five of Frank Dietrich’s 9 customer complaints were settled in favor of investors. There are currently three pending customer complaints filed against Quest Capital Strategies, Inc. for investment losses caused by Frank Dietrich’s alleged misconduct.
Allegations Against Frank Dietrich
A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses are as follows:
- Alleged Frank Dietrich’s losses and possible churning.
- Multiple claimants and separate arbitration proceedings alleged Frank Dietrich’s misrepresentation and omissions, violation of the Securities Act, deceptive trade practices, breach of fiduciary duty and negligence related to the sale of a Woodbridge promissory note that was not approved by the Firm. Notwithstanding, Quest Capital settled the dispute favorably for the investor.
- Frank Roland Dietrich was a subject of the customer’s complaint against his member firm that asserted the following causes of action: Frank Dietrich’s alleged violations of federal securities laws; violation of the Virginia securities laws; violation of the Florida securities and investor protection act; breach of contract; common law fraud; breach of fiduciary duty; and negligence and gross negligence. The causes of action relate to Claimants’ investments in promissory notes of the Woodbridge Mortgage Investment Funds 1 and 2.
- Claimant purchased $400,000 in Woodbridge promissory notes allegedly via Frank Dietrich. Woodbridge is not affiliated with Firm. Quest has never approved such product and had no knowledge of this activity and transaction. Notwithstanding, Quest Capital settled the dispute favorably for the investor.
- Claimant bought Mortgage Promissory Note allegedly via Frank Dietrich outside the scope of Firm. Quest had no knowledge about this activity and transaction. Notwithstanding, Quest Capital settled the dispute favorably for the investor.
- Claimant has never been a customer of Quest Capital (Firm). She purchased a $633,880 Mortgage Promissory Note with Woodbridge allegedly via Frank Dietrich outside the scope of Firm. Woodbridge is not affiliated with Firm. Quest has never approved such product and had no knowledge of this activity and transaction. Notwithstanding, Quest Capital settled the dispute favorably for the investor.
Frank Dietrich Red Flags & Your Rights As An Investor
Of course, Frank Dietrich did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Frank Dietrich at Quest Capital Strategies, Inc. on alert to review carefully the activity and performance of their accounts and question whether Frank Dietrich has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Quest Capital Strategies, Inc. also raises questions about the brokerage firms’ supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At Quest Capital Strategies, Inc. Due To Frank Dietrich
If you have questions about Quest Capital Strategies. Inc. and/or Frank Dietrich and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.