Broker is also accused of failure to disclose unsatisfied tax liens in excess of $250,000 and borrowing $266,000 from firm customers without consent.
Darnell Deans, most recently registered with Blackbook Capital, LLC in New York, is once again in hot water with FINRA.
A new disclosure on his BrokerCheck record shows that he allegedly failed to pay fines and/or costs of $10,000 in FINRA Case #2012030677101. In February 2015, a FINRA complaint was filed against Deans, alleging the following:
- While Deans was associated with Garden State Securities, Inc., he willfully failed to disclose three unsatisfied tax liens totaling approximately $254,995, therefore violating FINRA rules.
- While associated with Garden State Securities, Inc. in 2011, Deans borrowed a total of $266,000 from two firm customers without seeking or obtaining the firm’s approval for the loans. Again, violating FIRNA rules.
- Deans falsely represented to Garden State Securities, Inc. in 2011 and again in 2012 that he had not borrowed money from any firm customers.
In October 2015, Deans filed an agreement with FINRA to pay a fine of $10,000 and be subject to an eight-month suspension from associating with any FINRA member in any and all capacities, as well as the requirement to re-qualify by examination as a General Securities Representative prior to association with any member firm in that capacity.
As of February 2016, FINRA has revoked Deans’ participation in the securities industry due to his failure to pay the agreed upon fine.
If you have lost money as a result of doing business with Darnell Deans, or any financial advisor, you should explore your rights and seek the services of an experienced securities attorney.
The attorneys at Silver Law Group are industry leaders in the field of FINRA and securities arbitration, representing individual and institutional investors across the United States who have lost money at the hands of trusted financial advisors. Our services are on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. Contact us today for a complimentary consultation.