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CMD Investigating K.C. Ward Financial and Craig David Dima for Unauthorized Trading

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against K.C. Ward Financial and Craig David Dima for unauthorized trading and failure to supervise.

As reported by FINRA, Craig David Dima, a former K.C. Ward Financial registered rep, allegedly sold off almost all the holdings of one of his 73-year-old retired clients who accumulated Colgate stock during his employment. According to FINRA, the client did not want the stock sold but the broker allegedly sold the stock and then bought the stock back when confronted.  As a result, the customer paid Dima $375,000 in fees, mark-ups and mark-downs, while losing out on “substantial” dividends in the process, according to the press release from FINRA.  FINRA also alleges Dima’s trades in Colgate were unsuitable and broke rules on excessive mark-ups and mark-downs.  In response, FINRA barred Craig David Dima whom FINRA says made $15 million in unsuitable and unauthorized trades in this elderly client’s account.

If you or someone you know lost money investing with K.C. Ward Financial or Craig David Dima, you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid.  Your time to file a claim may be limited, so contact us today at (212) 658-0458 or for a free and confidential case evaluation.