Last Updated: March 2025 | Phoenix, AZ
Raymond J. DiMuro Investigation Summary
Here’s what you need to know about Phoenix, AZ, stockbroker Raymond J. DiMuro:
- Name: Mr. Raymond John DiMuro
- Current Status: Not currently registered
- Prior Employers:
- Charles Schwab & Co., Inc. (07/1999 – 11/2002)
- Your Source Financial, PLC (12/2002 – Present) (Investment Advisor)
- Function: Stockbroker / Financial Advisor
- Primary Location: Phoenix, AZ
- CRD Number: 3195132
- Can Raymond DiMuro be sued in FINRA arbitration? Yes
- Sanctioned by Securities Reguator: Yes
- Penalty: Fined $750,000
If you’ve sustained damages from Mr. DiMuro, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Raymond DiMuro As Your Stockbroker?
Raymond DiMuro was permanently barred by the SEC after he engaged in a fraudulent “cherry-picking” scheme from 2018 to 2022.
- Regulatory Action Date: October 24, 2024
- Case Number: 3-22275
- Sanction: Permanently barred from associating with any broker, dealer, investment adviser, or financial institution and fined $750,000.
- Cherry Picking:
- According to the SEC DiMuro had discretionary authority over client accounts, meaning he could make investment decisions and trade customer accounts. Most trades were executed through a block account which he would later allocate to individual client accounts. DiMuro began to ‘cherry pick’ , disproportionately allocating winning trades to favored clients and losing trades to the unfavored clients.
Allegations of Broker Misconduct Against Raymond DiMuro
The SEC has reported the following allegations against Raymond J. DiMuro:
- Cherry-Picking Trades for Select Clients:
- This violates SEC Rule 10b-5, which prohibits deceptive trading practices.
- Breach of Fiduciary Duty:
- As an investment adviser, DiMuro was required under SEC Rule 206(1) and
Recover Your Investment Losses Now With Rex Securities Law
See this for information on our other investigations of Schwab brokers
If you have suffered investment losses in an account handled by Raymond J. DiMuro, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.