Broker Dee Dee Brooks, Signator Investors in Huntington Beach, CA
Signator Investors Advisor Reportedly Barred after Allegations of FIP & Woodbridge Recommendations
According to disclosures on the Financial Industry Regulatory Authority (FINRA) website on June 9, the regulator has reportedly barred financial advisor Dee Dee Brooks from working in the securities industry.
According to the letter of Acceptance Waiver and Consent, Between July 2016 and December 2017, Brooks “engaged in undisclosed and unapproved private securities transactions totaling more than $1.77 million.”
Brooks purportedly solicited investors to purchase over $1.77 million in securities in two separate investments, the Woodbridge Group of Companies LLC and Future Income Payments, LLC, according to FINRA’s findings. Woodbridge was a purported real estate investment fund. Brooks, through a company that she worked with as an outside business, allegedly solicited nine investors, five of whom were reportedly Signator Investors customers, to invest $906,497 in Woodbridge promissory notes. According to FINRA, Brooks allegedly failed to provide notice to Signator Investors prior to participating in the transactions involving Woodbridge, and purportedly failed to obtain approval from the Firm.
Woodbridge reportedly filed a voluntary Chapter 11 bankruptcy petition in December 2017 and on December 27, 2018, the United States District Court for the Southern District of Florida issued final judgments against, among others, Woodbridge and its former owner, Case No. 17-24624 (S.D. Fla.). Those judgments required Woodbridge and the CEO to, among other things, disgorge their ill-gotten gains and pay a civil penalty.
Further, Brooks allegedly sold $866,895 in FIP purchase agreements to seven investors, six of whom were reportedly Signator customers allegedly without providing notice to the firm, or getting approval.
FIP, a structured cash flow investment, claimed to purchase pensions at a discount from pensioners and then selling a portion of those pensions as a “pension stream” to investors. FIP generally promised investors a 7% to 8% rate of return on their investment. According to the AWC, Brooks allegedly personally owned a FIP contract prior to joining Signator, which she purportedly purchased in June 2015
According to her FINRA BrokerCheck report, Brooks was reportedly registered with Signator Investors in Huntington Beach, CA from 2015 until 2018 when she reportedly voluntarily resigned after Signator began investigating “to determine her level of involvement in the sale of unregistered securities”. She has 1 customer complaint reportedly filed against her alleging “that the complainant invest her IRA monies in a fraudulent Ponzi scheme.”
Financial Advisor Investigation
The White Law Group is investigating potential lawsuits regarding the liability that Brooks’ former employers may have for failure to properly supervise her.
When brokers violate securities laws, such as participating in private securities transactions, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.
Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
We represent investors in FINRA arbitration claims in all 50 states, including California. If you are concerned about your investments with Dee Dee Brooks, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com. The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.