Wall Street Investment Fraud Lawyer Blog

The financial publication On Wall Street published an article today discussing the fate of Michael Dimare, a former ING Financial broker who was recently permanantly barred by securities regulator FINRA for scamming approximately 22 victims out of approximately $2 million between 2001 and 2008.

Accoding to Dimare's CRD report, a report that tracks customer complaints made by customers and securities regulators, ING Financial has compensated some investors who have come forward. In the article, Jason Doss, an attorney with The Doss Firm was quoted, "The question is whether everyone will come forward."

FINRA's investigation uncovered that between 2001 and 2008, Dimare persuaded his clients to invest in fictitious investments. Between 2001 and 2006, Dimare was a sales manager for John Hancock Mutual Life Insurance Company. During that time period, victims wrote checks made payable to John Hancock believing that the money would be invested. In reality, Dimare deposited the funds into his own bank account.

Between 2006 and 2008, Dimare was a registered representative of ING Financial Partners. During this time period, it appears that Dimare continued to encourage his clients to write checks made payable to John Hancock and then deposited the funds into his bank account.

Victims who lost money prior to 2006 likely have legal claims that can be brought against John Hancock for failure to supervise as well as the depositary bank who accepted the checks for deposit for conversion. Victims who lost money between 2006 and 2008 likely have claims against ING Financial Partners and the depositary bank.

For more information, feel free to contact us for a free consultation.

FINRA anounced yesterday that it permanantly barred former ING Financial broker, Michael Dimare, from Ponta Vedra Beach, Florida for scamming approximately 22 victims out of approximately $2 million between 2001 and 2008.

FINRA's investigation uncovered that between 2001 and 2008, Dimare persuaded his clients to invest in fictitious investments. Between 2001 and 2006, Dimare was a sales manager for John Hancock Mutual Life Insurance Company. During that time period, victims wrote checks made payable to John Hancock believing that the money would be invested. In reality, Dimare deposited the funds into his own bank account.

Between 2006 and 2008, Dimare was a registered representative of ING Financial Partners. During this time period, it appears that Dimare continued to encourage his clients to write checks made payable to John Hancock and then deposited the funds into his bank account.

Victims who lost money prior to 2006 likely have legal claims that can be brought against John Hancock for failure to supervise as well as the depositary bank who accepted the checks for deposit for conversion. Victims who lost money between 2006 and 2008 likely have claims against ING Financial Partners and the depositary bank.

For more information, feel free to contact us for a free consultation.

CBS Atlanta News reported today that customers who rent movies from Red Box in the Atlanta area are complaining of being overcharged. According to the report, Red Box charges a dollar a night with no late fees but some customers are complaining that they were charged over a hundred dollars by the time they were through dealing with the company. The primary complaint is that the company continues to charge customers even after the movies are returned.

If you were overcharged by Red Box, please contact us for a free consultation. The Doss Firm, LLC is a law firm that is devoted to protecting the rights of consumers.