Investigation of Dawn Bennett
The Securities Exchange Commission (SEC) has charged Maryland broker Dawn Bennett with grossly exaggerating investment returns. Bennett is accused of inflating the amount of managed assets she managed and touting returns generated by Bennett Group Financial Services on her paid radio program.
According to a press release, from 2009 to 2011 Bennett allegedly made material misstatements and omissions. Bennett is accused of making the claim that she and the firm managed assets of $1.1 billion to $1.8 billion. As a result media organizations listed Bennett as a “Top 100 Women Financial Advisor” and a “2011 Top Advisor.” Bennett and the firm than touted these distinctions to potential clients.
Beginning in 2010 Bennett allegedly began promoting the Bennett Group on a local radio show where she continued to falsely claim the amount of assets the firm managed. Bennett touted the allegedly false claim of more than a billion in managed assets when in fact the firm had never provided any form of services to manage assets exceeding $407 million (according to the SEC).
The SEC also alleges that the returns Bennett touted during her Financial Myth Busting radio program were calculated from a model portfolio. Bennett purportedly failed to disclose that the returns she was touting were calculated using the model and that a significant portion of customer accounts were not invested in accordance with that model.
According to BrokerCheck, Bennett was a registered representative for Royal Alliance Associates from 2/2006 – 10/2009. She is currently registered with Western International Securities in Washington DC.
The foregoing information, which is available on the SEC’s website, is being provided by The White Law Group.
Recovery of Investment Losses
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
If you suffered financial losses investing with Dawn Bennett and would like to speak to a securities attorney, please call the firm at (888) 637-5510 for a free consultation.
To learn more about The White Law Group, visit www.WhiteSecurtiesLaw.com.