Financial Advisor Ronnie Dumag Barred by FINRA

• June 21, 2024
• PFS Investments

Ronnie Rindon Dumag (CRD#:4783585) is a previously registered broker.

Broker’s Background

He entered the securities industry in 2004 and previously worked with PFS Investments Inc.

Allegations of Misconduct

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on June 13, 2024, Ronnie Dumag was barred by FINRA for “Without admitting or denying the findings, Dumag consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with its investigation into his potential conversion of funds from an elderly customer.”

In addition, in March 2020, Ronnie Dumag was subject to a Tax Lien in the amount of $52,155.75.

Broker theft and misappropriation is a significant industry problem. When this occurs, it is often the result of a supervisory failure on the part of the brokerage firm. It is important to hire experienced counsel to handle theft cases to ensure that the theft is fully remediated. Often times, brokerages attempt to shift blame onto the individual financial advisor or the customer.

For a copy of Ronnie Dumag’s FINRA BrokerCheck, click here.

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The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.