Peter Dourdas Allegedly Compensated Himself Using Client’s Insurance Policy

Peter Dourdas (CRD #: 1533296), a broker formerly registered with Questar Capital Corporation, has been barred by FINRA, according to his BrokerCheck record, accessed on June 1, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On March 15, 2023, an individual with power of attorney over a client alleged that Peter Dourdas took loans from the policy owner’s whole life insurance policy to compensate himself for his advisory services, causing the value of the policy to decline. This dispute is currently pending.

FINRA Rule 2150

FINRA Rule 2150 forbids brokers from misusing investors’ funds.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Bar by FINRA

On July 16, 2015, FINRA filed a complaint alleging that Peter Dourdas provided Questar Capital Corporation with false information during his annual supervisory interviews from 2008-2012. Specifically, he allegedly failed to disclose that he served as a trustee for his second cousin’s life insurance trust.

FINRA further alleged that Peter Dourdas failed to provide documents, information, and testimony requested as part of an investigation into allegations of conversion of funds belonging to a client.

Starting January 11, 2016, Peter Dourdas was permanently barred by FINRA. You can read the initial complaint here and the Office of Hearing Officers decision here.

FINRA Rule 8210

FINRA Rule 8210 requires members to submit their books and records for inspection and to appear for testimony in connection with FINRA investigations.

Background Information

Peter Dourdas has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

He previously also worked for the following firms:

• Questar Capital Corporation (CRD#:43100)
• USAllianz Securities (CRD#:40875)
• MML Investors Services (CRD#:10409)

Kurta Law Can Help

If you worked with Peter Dourdas 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 and 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.