Georgia Authorities Charge M Holdings Broker Dean Grant With Insurance Fraud

Authorities in the State of Georgia have charged M Holdings Securities Inc. registered representative Dean Harrison Grant (CRD#: 1945209, Milledgeville, Georgia) with fraud, theft, forgery and trafficking of an elder person. Supposedly, Mr. Grant victimized clients by making off with $1,374,384.33 worth of their funds.

Mr. Grant Allegedly Stole $1,374,384.33 From Elderly Victims

Evidently, Georgia Insurance Commissioner procured a warrant on February 1, 2019 to arrest the adviser. Specifically, according to his Financial Industry Regulatory Authority (“FINRA”) BrokerCheck Report, Mr. Grant, 53, initially faced nine felony counts in Case #1900268. Supposedly, three of those counts are for theft by a fiduciary. Additionally, authorities charged Mr. Grant with three counts of insurance fraud, one count of forgery, and two counts of “trafficking a disabled adult or elder person or resident.”
Later, the Baldwin County Sheriff’s Office revealed that it brought more charges against Mr. Grant. In particular, the new charges against Mr. Grant now include seven counts of theft by taking, fiduciary; and seven counts of insurance fraud. Notably, Georgia Commission of Insurance issued a press release stating that Mr. Grant stole $447,589.26 of the $589,384.33 three victims provided him for insurance investments. Allegedly, Mr. Grant subsequently made off with an additional $785,000 from three more customers.
Evidently, Mr. Grant reportedly headed up the Grant Financial Group – an investment advisory in Milledgeville, Georgia, in November 2006. Additionally, Mr. Grant maintained an affiliation with Dean Grant Financial. Supposedly, Mr. Grant maintained his affiliations with the advisories while working as a M Holding Securities Inc. registered representative. Allegedly, Mr. Grant committed the crimes against individuals in Baldwin and Milledgeville.

Complaint Alleges Elderly Customer Provided Bogus Investment

Apparently, the Baldwin County Sherriff’s Office initially learned about Mr. Grant from a local attorney who indicated a customer bought a bogus investment through Mr. Grant. Specifically, the customer lacked any literature or statements to evidence the investment purchase, according to the complaint. Furthermore, the company who supposedly held the investment confirmed that no account was in place. Apparently, the victim of the fraud was an elderly woman who placed $225,000.00 with Dean Grant Financial. Evidently, Sheriffs in Baldwin County informed the Georgia Insurance Commissioner about Mr. Grant’s alleged fraud.

Customer Dispute Involving Dean Grant

At least one customer of NYLife Securities Inc. (Mr. Grant’s former employer) filed a dispute about him. Apparently, Mr. Grant allegedly misrepresented the terms of an insurance policy transfer. Notably, Mr. Grant allegedly told the customer that the customer would not have to make additional premium payments to renew the policy. Supposedly, this was not true. Secondly, the customer claimed that Mr. Grant did not give the customer a copy of the insurance policy. However, NYLife Securities Inc. denied the customer’s allegations.

Have you experienced losses by investing with Dean Grant? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represent clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.