Tr?id=566623520170033&ev=PageView&noscript=1

Wells Fargo Ordered To Pay Former Credit Suisse Advisor Nearly a Million Dollars

Posted on June 3rd, 2022 at 1:36 PM
Wells Fargo Ordered To Pay Former Credit Suisse Advisor Nearly a Million Dollars

From the Desk of Jim Eccleston at Eccleston Law:

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wells Fargo to pay $987,300 in compensatory damages to a former Credit Suisse advisor for aiding and abetting Credit Suisse. 

The former advisor, Anthony Dertouzos, accused Wells Fargo of “aiding and abetting Credit Suisse’s scheme to steal” deferred compensation owed to him and other Credit Suisse advisors. According to BrokerCheck, Dertouzos worked at Credit Suisse from 2008 until 2015 when he departed for Morgan Stanley. In the FINRA arbitration dispute, Dertouzos additionally alleged negligent misrepresentations, fraud, negligence and unjust enrichment by Wells Fargo. 

Dertouzos sought compensatory damages of at least $5.5 million and also named David Carroll, David Kowach, and Mary Mack of Wells Fargo as respondents in his statement of claim. However, the claims against Carroll, Kowach and Mack were denied. The panel additionally imposed a total of $41,662.50 of the FINRA Dispute Resolution Services hearing session fees jointly and severally to the respondents. 

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

 
 
 

Tags: eccleston law, finra, wells fargo

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

LATEST NEWS AND ARTICLES

1789665543 Law
September 17, 2026
SEC Charges 38 Entities Over Allegedly Fraudulent Adviser Filings

The Securities and Exchange Commission (SEC) charged 38 entities with allegedly making material misrepresentations in Forms ADV filed with the SEC between 2025 and 2026.

1789589290 Law
September 16, 2026
Edelman Financial Engines Secures TRO Against Advisor Who Joined RFG Advisory

Edelman Financial Engines recently secured a temporary restraining order (TRO) against Chad A.

1789490284 Law
September 15, 2026
FINRA Suspends Former Northwestern Mutual Broker Over Customer Loans

The Financial industry Regulatory Authority (FINRA) has suspended and fined a former Northwestern Mutual broker after he solicited two customers for loans to purchase another representative's book of business but instead used most of the money to pay personal expenses and other debt, according to an Acceptance, Waiver, and Consent (AWC) letter.<...