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Former PFS Investments Financial Advisor Jeffrey Dampf Barred by FINRA After Allegations of Misappropriating Funds

Jeffrey Dampf (CRD#: 5676205) is a previously registered Broker and previously registered Investment Advisor. He entered the securities industry in 2009 and previously worked for PFS Investments, Inc.

 

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2021, FINRA sanctioned Jeffrey Dampf, barring him from all capacities indefinitely, beginning October 1, 2021. The FINRA sanction states, “Without admitting or denying the findings, Dampf consented to the sanction and to the entry of findings that he refused to provide on-the-record testimony or to produce the documents and information requested by FINRA in connection with its investigation into allegations that he misappropriated funds from elderly individuals.”

 

For a copy of the FINRA sanction, click here.

 

In addition, Jeffrey Dampf has been the subject of one disclosure:

 

  • September 2021–”We received an information request from FINRA indicating that Dampf may have been charged with felonies relating to taking money from the elderly. We had no such information and were unable to locate any publicly available information to confirm or refute the alleged charges.” Jeffrey Dampf was permitted to resign from PFS Investments, Inc.

 

For a copy of Jeffrey Dampf’s FINRA BrokerCheck, click here.

 

Brokerage firms have a regulatory responsibility to supervise the sales practice activities of its employees, including Financial Advisors.  It is incumbent upon brokerage firms to review withdrawals and deposits as well as aberrant account activity to ensure that client assets are safeguarded.

 

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.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]