Dawn Bennett, formerly of Western International Securities, Charged with Securities Fraud Regarding DJBENNETT
Have you lost money with financial advisor Dawn Bennett of Washington, D.C.? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Dawn Bennett.
In August 2017, the SEC alleged that Dawn Bennett was running a Ponzi scheme related to a luxury sports apparel business called DJBENNETT.com. The SEC alleged that Bennett raised over $20 million in promissory notes between December 2014 and July 2017 for DJBENNETT, but that she made material misrepresentations about the company’s financial condition and performance. The US Attorney’s office in Maryland also filed criminal charges related to this action.
This is not Dawn Bennett’s first run-in with the SEC. In a complaint filed in January 2016, the SEC alleges that Bennett, and her company Bennett Group Financial Services, misrepresented the amount of investments her company had under its management. Bennett, who had a weekly radio show called “Financial Myth Busting with Dawn Bennett”, was alleged to have overstated the assets under management by over $1.5 billion.
InvestmentNews.com recently reported that Bennett failed to show up at her hearing with the SEC. Her attorney claimed that the proceedings were biased.
Dawn Bennett was a financial advisor and registered representative of Western International Securities & Company from October 2009 to November 2015. She worked at a branch office in Washington, D.C., and lives in Chevy Chase, Maryland. Bennett has been the subject of at least thirteen customer complaints, twelve of which were made within the last three years. These complaints make allegations of misrepresentations and unauthorized trading.
Israels & Neuman previously represented two investors who filed claims against Bennett and Western International Securities. The claims alleged that Bennett misrepresented the risks of securities to her clients and made unsuitable investment recommendations. Bennett’s clients lost money in inverse ETFs (exchange traded funds), as well as precious metal funds, like gold, silver, platinum, and palladium.
Brokerage firms like Western International Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle, Washington area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout the Washington D.C. area. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including Western International Securities.
Click to view: Bennett BrokerCheck 9.10.15
Click to view: Bennett SEC Comp
Click to view: Bennett, Dawn, SEC Complaint Aug. 2017
If you lost money with Dawn Bennett or Western International Securities, please CONTACT US at 720-599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.