CFTC Alleges Dean Dellas Misappropriated Six Figures from Clients

Dean Dellas (CRD #: 5596286), a broker formerly registered with T3 Trading Group, is the subject of a pending CFTC civil complaint, according to his BrokerCheck record, accessed on June 21, 2025. Read on if you have questions about his alleged conduct as a broker.

CFTC Civil Complaint

On May 7, 2025, the Commodity Futures Trading Commission filed a civil complaint against Dean Dellas and DWD Capital Management LLC, alleging that they engaged in a fraudulent scheme which misappropriated more than $690,000 from at least two clients.

Dean Dellas allegedly persuaded Client A to sign a power of attorney that allowed him to manage almost all of Client A’s retirement and savings through his firm, DSD Capital Management. He allegedly began trading futures contracts in Client A’s accounts without warning him of the risks, resulting in over $169,000 in commissions and trading losses, which he allegedly concealed from his client.

Further, Dean Dellas allegedly misappropriated more than $235,000 from Client A through transfers and fraudulent and unjustified fees, which allegedly violated certain agreements and representations that Client A and, later, Client B, would only be charged fees equating to 10% of the profits in their accounts.

The CFTC alleged that Dean Dellas also defrauded Client A’s elderly mother, Client B, of more than $459,000. He allegedly engaged in high-risk futures trading without her knowledge and in contradiction to her goal of preservation of capital. This trading allegedly resulted in over $196,000 in losses and commissions.

As part of this scheme, Dean Dellas allegedly concealed the substance of documents he requested Clients A and B to sign. He allegedly also impersonated Client B when instructing a brokerage firm to lift its restrictions on fund transfers to DSD Capital Management and when requesting that another firm stop sending Client B account statements.

Dean Dellas allegedly transferred most of the misappropriated funds to his bank accounts and used them for personal expenses or withdrew them in cash.

The CFTC alleged that Dean Dellas and DSD Capital Management violated Sections 4b(a)(1)(A) and (C) and 4o(1)(A)-(B) of the Commodity Exchange Act. This complaint is currently pending.

Commodity Exchange Act

Sections 4b(a)(1)(A) and 4b(a)(1)(C) of the Commodity Exchange Act forbids persons who make contracts of sale of commodities, including futures, from defrauding or deceiving another person in relation to these contracts.

Section 4o(1)(A) and (B) prohibit commodity trading advisors and their associated persons from employing fraudulent devices or schemes, or engaging in other deceitful practices.

Background Information

Dean Dellas has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

He has also worked for the following firms:

• T3 Trading Group (CRD#:154431)
• Pinnacle Investments (CRD#:142910)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Dean Dellas and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.