In a recent disciplinary action announcement, FINRA announced that Dennis Keith Karasik (CRD #1227463, Reisterstown, Maryland) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Karasik consented to the sanction and to the entry of findings that he participated in private securities transactions without providing prior written notice to his member firms. The findings stated that Karasik participated in the offer and sale of bonds issued by a domestic energy company and received finder’s fees from the company as a result of these sales. Karasik falsely certified to one firm that he had not engaged in any private securities transactions without first receiving prior written approval. Karasik also failed to provide accurate information to a firm on an Outside Business Activity Disclosure Form regarding an independent financial services business where he served as a partner. The findings also stated that Karasik provided false information to a firm in response to inquiries about a lawsuit filed against him by a customer who had purchased bonds. The firm included the false information on Karasik’s amended Form U4. Karasik provided false information to FINRA in response to a request in which he asserted that he did not recommend the purchase of bonds and did not receive any compensation for the sales of bonds. Karasik also provided false testimony to FINRA about his role in the sales of the bonds and his receipt of compensation from the company.
For the full FINRA findings, see FINRA case #2012034750401.
According to his FINRA Broker Report, Karasik was employed by Multi-Financial Securities from June 2006 through December 2011 and H. Beck from January 2012 through February 2013. His broker report also indicates that he has been the broker of record on 6 customer complaints. These customer complaints appear to each be involving a corporate debt investment in Diversified Energy Group.
The foregoing information, which is all provided on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
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