Frank Roland Dietrich of Fairfax Station, Virginia submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) and agreed to be barred for allegedly engaging in private securities transactions in violation of NASD Rule 3040 and FINRA Rules 3280 and 2010.
Frank Roland Dietrich was registered with Quest Capital Securities as a General Securities Representative from March 2013 through April 2019. According to FINRA, Dietrich engaged in private securities transactions totaling more than $10.8 million without written notice or approval from his firm. The FINRA findings stated Dietrich solicited investors to purchase promissory notes relating to the Woodbridge Group of Companies LLC (“Woodbridge”), a purported real estate investment fund, which later filed a voluntary Chapter 11 Bankruptcy petition. FINRA stated that he sold $10,831,645 in the funds’ notes to 58 investors, 30 of whom were customers of Quest Capital and received $260,864 in commissions in connection with the transactions. Continue Reading