Darnell Anthony Deans : Elder Financial Fraud Alert

After numerous allegations, his 23-year career has come to an end

The Financial Industry Regulatory Authority (FINRA) has permanently barred Darnell Anthony Deans from the securities industry. The agency’s final ruling came after years of sanctions, suspensions, and fines related to a charge that he borrowed money from clients.

In 2015, FINRA discovered that Deans had three federal tax liens totaling about $250,000 and reported that he borrowed money from elderly clients in order to pay his debt. He allegedly did this without getting permission from his firm and, when questioned, he lied about his actions. If his clients did not know they were lending him money or he lied about what it would be used for, this could constitute elder financial fraud.

As a result, Deans was given an eight-month suspension by FINRA and ordered to pay $10,000. That suspension was later made indefinite when he didn’t pay the fine. And because he reportedly never reached out to FINRA to provide additional information it requested, he was barred permanently.

Deans began working as a broker in 1992 and was a member of these nine New York firms:

Berkeley Securities Corporation
J. Gregory & Company, Inc.
Commonwealth Associates
H.J. Myers & Co., Inc.
Josephthal & Co. Inc.
Oppenheimer & Co., Inc.
Garden State Securities, Inc.
John Carris Investments LLC
Blackbook Capital, LLC

Three of these firms – H.J. Myers, John Carris, and Blackbook – are no longer in business, as they were expelled by FINRA.

The recent charges against Deans are not the first he has faced. In 2003, a customer accused him of several things, including unauthorized trading, breach of contract, and fraud. And from 2012 to 2014, Deans had his license revoked in three states – New Jersey, Indiana, and Michigan – due to a number of infractions, including unethical business practices.

Much more about Deans, his work history, and the allegations against him can be found in FINRA’s BrokerCheck report.

Did you hire Darnell Deans to handle your money? If you suffered investment losses, it’s possible his actions were to blame. To find out if you can recover lost funds through arbitration, an elder financial fraud attorney may be able to help you. Contact the Silver Law Group for a free consultation. We will explain how the arbitration process works and what we can do for you. Our firm is contingency-based, so unless we successfully help you get money back, you won’t owe us a fee.