New Jersey Advisor Agrees to Bar Related to Elderly Theft Charges

Posted on October 12th, 2021 at 1:11 PM
New Jersey Advisor Agrees to Bar Related to Elderly Theft Charges

From the Desk of Jim Eccleston at Eccleston Law:

The Financial Industry Regulatory Authority (FINRA) barred a New Jersey financial advisor from the industry after the advisor was charged with attempted theft of the elderly in 2020. Jeffrey Dampf received a bar as part of a settlement after Dampf failed to cooperate in FINRA’s investigation into the matter. According to the settlement order, Dampf did not appear to testify while he failed to provide documents that FINRA had requested during the investigation. 

Earlier in 2020, the Ocean County Prosecutor’s Office in New Jersey alleged that Dampf utilized his capacity as power of attorney and accountant to misappropriate funds from two elderly siblings. According to Ocean County Prosecutors, “Dampf attempted to electronically transfer $500,000 to an investment account from the elderly victim’s bank account for his own personal benefit.” Additionally, Dampf hired two home health care aides while serving as power of attorney, but the health care aides were also charged with theft. According to BrokerCheck, Dampf was “permitted to resign” last month from PFS Investments Inc. after joining the firm in 2009. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisor barred, finra

Return to Archive

TESTIMONIALS

Previous
Next

I just wanted to say thanks again for preparing and executing my case in such a professional manner. It was a pleasure to watch two professionals take such pride in their work, as well as becoming personally in tune with your client (Me). I would personally recommend you and your firm to anyone.

John O.

LATEST NEWS AND ARTICLES

October 2, 2024
SEC Charges Two South Florida Men for Defrauding Venezuelan-American Investors in $5 Million Scheme

The Securities and Exchange Commission (SEC) has filed a complaint against two South Florida men, Francisco Javier Malave Hernandez and Ricardo Javier Guerra Farias, for orchestrating a multi-million dollar investment fraud that targeted members of the Venezuelan-American community.

October 1, 2024
California Advisor Suspended and Fined for Churning Client Accounts

A veteran advisor in Santa Maria, California, Stewart "Paxton" Ginn, has been suspended for 18 months and fined $50,000 by FINRA, according to AdvisorHub

September 30, 2024
Bank of America and Merrill Lynch Settle with FINRA for Supervisory Failures

Bank of America and its subsidiary, Merrill Lynch, have agreed to a $3 million fine and censure as part of a settlement with FINRA over long-term supervisory failures.