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

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Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

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