Lakeside Capital Management LLC and Dennis H. Daugs Jr. Allegedly Defraud Clients Using Money for Personal Expenses
Lakeside Capital Management LLC and owner Dennis H. Daugs Jr. were both charged with defrauding clients and abusing their provided assets in order to make personal loans, used for buying a vacation home and a vintage automobile, according to the Securities and Exchange Commission.
Daugs Jr. allegedly used assets from elderly clients for personal usage, as per the SEC investigation. He supposedly failed to act in the best interests of the clients and disclose to them all material conflict of interests, according to the director of the SEC’s San Francisco Regional Office.
Lakeside Capital Management LLC and Dennis H. Daugs Jr. agreed to pay back the clients with interest as well as pay $250,000 in penalties. Daugs Jr. will be banned from the securities industry for at least five years.
Investors who believe they lost money as a result of their investment with Lakeside Capital Management LLC or Dennis H. Daugs Jr. may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Dennis H. Daugs
Status: INVESTIGATED by Peiffer Rosca.
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