Dennis Karasik and Diversified Energy Group

We are currently investigating allegations made against Dennis Karasik of Parkton, Maryland.  Dennis Karasik was recently barred from the securities industry by FINRA, the Financial Industry Regulatory Authority.  FINRA alleged that Dennis Karasik recommended that his clients invest in bonds offered by Diversified Energy Group, a purported oil and gas company.  The Diversified Energy Group bonds defaulted, leaving investors with significant losses.

FINRA claims that Karasik did not have approval from his respective firms to sell investments in Diversified Energy Group.  FINRA also alleges that Karasik lied about his involvement with Diversified Energy Group during FINRA’s investigation.  Dennis Karasik was a registered representative and financial advisor with H. Beck from January 2012 to February 2013, and he was also an advisor with Multi-Financial Securities Corp. (now part of Cetera Advisors, LLC) from June 2006 to December 2011.  H. Beck terminated Karasik’s registration with the firm after learning of these allegations.

Broker-dealers like Multi-Financial Securities Corp. and H. Beck have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives.  Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.  If you have lost money through Dennis Karasik or Diversified Energy Group and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.