Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals important details about securities broker Ronnie Rindon Dumag (also known as Ronnie R. Dumag) [CRD: 4783585, Sacramento, California]. Dumag worked for PFS Investments Inc. from August 16, 2004, to May 22, 2024. Recently, Dumag faced allegations involving harm to an elderly client. Evidently, FINRA barred him from the securities industry after he refused to cooperate with their investigation. Keep reading to learn more about the disclosures involving this broker.
On June 13, 2024, FINRA barred Ronnie Dumag after he refused to cooperate with their investigation. The probe was initiated to assess Dumag’s potential conversion of funds from an elderly client. FINRA requested Dumag to provide documents and information on February 16, 2024, regarding his interactions with the client. However, on May 28, 2024, Dumag informed FINRA that he would not comply with the request. So, Dumag violated FINRA Rules 2010 and 8210, leading to his permanent bar from the securities industry.
PFS Investments Terminated Ronnie Dumag Following Customer Loan Allegations
On May 22, 2024, PFS Investments Inc. allowed Ronnie Dumag to resign after allegations surfaced that Dumag borrowed money from a securities client. The firm stated that Dumag admitted to borrowing funds from the client.
Contact Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney for more information. Dumag and the firms he worked for deny the accusations of sales practice violations. Soreide Law Group has experience representing investors throughout the country. The firm handles cases on a contingency basis.
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