Steve Dalton Wes Wilt Being Investigated

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Unauthorized and excessive trading, fraud, margin abuse, forgery, document falsification, and customer complaints being settled away with cash payments, and systemic supervisory failure with Supervisor Steve Dalton , Wesley Wilt and Michael Bastardi.

INDIANAPOLIS - Jan. 5, 2019 - eTradeWire -- It was recently uncovered that there is evidence of unauthorized and excessive trading, fraud, margin abuse, forgery, document falsification, and customer complaints being settled away with cash payments, and systemic supervisory failure with Supervisor Steve Dalton , Wesley Wilt and Michael Bastardi."

Dalton Strategic was purchased by Securities America in 2014, which employs both Steve Dalton and Wesley Wilt. Since the purchase by Securities America there have been at least seven (7) separate complaints due to Steve Dalton's supervision.  Publicly available information shows Steve Dalton's companies owe $94370.23 for unpaid rent of his offices.

Asked how Securities America could have missed so many red flags when kicking the tires on the deal, Attorney Mr. Wallace was characteristically blunt: "Dalton and Wilt fooled Securities America into investing in Dalton Strategic just as they fooled individual investors. They did a lot of fixing. Cleaned the windows really well. For them, average Joe and Jane investors were easy pickings."

Recently another Steve Dalton advisor supervised by Steve Dalton and Wilt,  Frank Esposito, had issues according to his BrokerCheck report.  He has received one customer complaint, one denied customer complaint, and two unsatisfied judgments/ liens, writ of attachment, and civil lawsuit.   It is clear Mr Esposito has a long history of problems and getting worse with a issue every year for the last four years.

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  • In October 2018 a customer alleged Frank Esposito, while employed at FSC Securities Corporation, provided a poor recommendation to partially withdraw from a variable annuity and purchase non-traded real estate investment trusts. The customer sought $137,620 in damages in the complaint, which was denied.
  • In 2017 Mr Esposito received a Writ of Attachment of his assets for $101,667.20 in San Diego from an unpaid loan
  • In 2016 Mr Esposito was sued for unspecified damages for taking client information without client approval
  • In 2015 a customer alleged Frank Esposito, while employed at FSC Securities Corporation, failed to timely execute a variable annuity transfer, resulting in adverse tax consequences. The complaint settled for $7,500.
  • In 2005 the New Jersey Superior Court Law Division filed a civil judgment or lien totaling $5,975 against him. The judgment or lien remains outstanding.
  • In 1994 the New York State Tax Commission filed a tax lien totaling $588 against him. The lien remains outstanding.
  • In 1992 Frank Esposito filed bankruptcy
.. read more here

Six (6) Additional Steve Dalton - Dalton Strategic Compliance Complaints


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Fitapelli | Kurta
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Source: Fitapelli | Kurta

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