Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
Soreide Law Group has filed a FINRA arbitration on behalf of their clients (Claimants) against:
NEWBRIDGE SECURITIES CORPORATION and their former registered representative, DEAN ROBERT NOWAK (DEAN R NOWAK). (Respondents)
The Claimants are both in their sixties and living in Florida. In 2019, the Claimants attended a retirement seminar hosted by NEWBRIDGE broker, DEAN R NOWAK. The Claimants were looking for safe, income-generating investments to sustain them through their retirement that had no risk of loss to irreplaceable retirement savings.
On or about August 2020, DEAN R NOWAK allegedly recommended one unrated corporate GWG “L” bond for $30,000 to the Claimants. On April 20th, 2022, GWG Holdings filed Chapter 11 bankruptcy which could mean investors receive less than 5% of their investment back. The lawsuit alleges that NOWAK also recommended Gladstone Land Corporation, another illiquid high-risk investment in February of 2022, which the Claimant lost around $7,500.
The lawsuit alleges that NEWBRIDGE and their representative, DEAN R NOWAK’s actions have caused damages to the Claimants of approximately $50,000.00. The lawsuit is claiming negligence, breach of fiduciary duty, and negligent supervision.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, DEAN R NOWAK has been in the securities industry for 39 years and was listed with 6 firms. Nowak has 11 disclosures on his FINRA CRD report, all 11 disclosures are “Customer Disputes.” In 2003, FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words, DEAN R NOWAK’s 11 customer complaints rank him in the top one-hundredth percent of all registered representatives for customer complaints. The lawsuit alleges that NEWBRIDGE failed to properly supervise NOWAK.
The lawsuit states that some of customer complaints are related to: breach of fiduciary duty, breach of contract, violations of state securities laws, deceptive trade practices, misrepresentations, and unsuitability.
DEAN R NOWAK was previously registered with NEWBRIDGE SECURITIES CORPORATION in Winter Park, Florida from 08/22/2019 - 09/23/2022.
To discuss this article or any other securities issues, contact the Florida-based Soreide Law Group and speak to an experienced securities lawyer at no cost: 888-760-6552.
Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis, no fee to you if no recovery.
Ernesto Chavez (CRD: 4315877) faces a new pending claim on BrokerCheck over an investment made in 2018. The customer alleges $180,000 in damages, and no arbitrator has ruled on the claim.
William Tunink (CRD: 2738224) settled a customer claim for $299,000 on August 11, 2026, according to his BrokerCheck report. The customer alleged that he obtained loans from the customer, and that some of the money went into an investment.
Tony Barouti (CRD: 3031995) faces a pending $230,400 customer claim, according to his BrokerCheck report. He says the allegations in it are false. His report also lists SEC administrative and cease-and-desist proceedings from August 2025.
Phone:
Fax: 1-954-760-6553
Email: [email protected]