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$220K Investor Complaint Against McDonough Advisor Peter Dorn
An investor complaint against Cape Securities financial advisor Peter Dorn (CRD# 1089858) alleges that he recommended unsuitable speculative investments. Financial Industry Regulatory Authority records show that he is a broker based in McDonough, Georgia, having previously been registered with Wall Street Strategies in West Des Moines, Iowa.
Mr. Dorn’s BrokerCheck report discloses one pending investor complaint against him. Filed in March 2022, it alleges that as a representative of Cape Securities, he engaged in negligence, made unsuitable investment recommendations, committed securities fraud, breached his fiduciary duty, failed in his supervisory obligations, breached contract, and made fraudulent misrepresentations and omissions in relation to allegedly speculative investments in an entity that “sought to acquire and operate automotive dealerships and another whose portfolio consists of viatical life insurance and real estate assets.” The pending complaint alleges damages of $220,000.
In addition to the pending complaint, Mr. Dorn’s BrokerCheck report includes an earlier complaint that settled. Filed in 2010, it alleged breach of fiduciary duty, unsuitability, supervisory failures, misrepresentations, and lack of due diligence related to an investment in tenant-in-common properties. The complaint reached a settlement of $41,250.
According to his BrokerCheck report, Peter Dorn holds 39 years of securities industry experience. Based in McDonough, Georgia, he has been a broker with Cape Securities since 2017. His past registrations include Wall Street Strategies (West Des Moines, Iowa; 2013-2017), Richfield Orion International (Castle Rock, Colorado; 2012), Berthel Fisher & Company (Clive, Iowa; 2003-2010), Broker Dealer Financial Services (West Des Moines, Iowa; 2002-2003), Berthel Fisher & Company Financial Services (Cedar Rapids, Iowa; 1992-2002), John G. Kinnard & Company (Minneapolis, Minnesota; 1991-1992)), R.G. Dickinson & Company, Painewebber, and Merrill Lynch. His credentials include the passage of six securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Uniform Investment Adviser Law Examination, or Series 65; the Interest Rate Options Examination, or Series 5; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the National Commodity Futures Examination, or Series 3. He is licensed in Arizona, California, Colorado, Florida, Indiana, Iowa, Montana, Nebraska, Texas, and Wisconsin. (Information current as of June 7, 2022.)
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