Damon Vickers— Excessive Trading and Excessive Commissions

investment fraud attorney ClevelandDamon Vickers Allegedly Engaged in Excessive Trading and Charged Excessive Commissions

Damon Vickers, a financial advisor who previously worked with Southeast Investments N.C., Inc., allegedly engaged in excessive trading and charged excessive commissions to customers, according to a Complaint from the Washington Division of Securities currently under review by attorney Joe Peiffer and Alan Rosca.

Damon Vickers, from 2009 to 2012, from 2009 to 2012, allegedly excessively traded his customers’ accounts and purportedly brought in over $5.3 million in commissions during the aforementioned time period, according to the aforementioned Complaint.

The Peiffer Rosca Wolf securities lawyers are currently investigating Damon Vickers and his alleged practices of excessive trading and charging of excessive fees.

Damon Vickers Allegedly Provided Investment Advisory Services Despite Having No Investment Advisory License or Registration

Damon Vickers, the author of “The Day After the Dollar Crashes: A Survival Guide for the Rise of the New World”, allegedly provided investment advisory services, despite holding no investment advisory license or registration, according to the Washington Division of Securities Complaint currently under review by attorney Joe Peiffer and Alan Rosca.

Furthermore, some of Vickers’ customers paid as much as 18.35% per year of the value of the customer’s portfolio value in commissions, the Complaint notes.

Finally, Damon Vickers allegedly operated customers’ accounts which had turnover ratios as high as 6.6, and the majority of the accounts purportedly held a turnover ratio of 4 or more, and the cost-equity ratios had an average of 12.66%, and were as high as 24.83%, according to the Complaint.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged excessive trading and charging of fees. They are currently investigating Damon Vickers’ alleged excessive trading and charges of excessive commissions to customers. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Damon Vickers’ alleged excessive trading and charges of excessive commissions to customers may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.