We cover latest news on investor lawsuits, investigations and investment fraud. Unfortunately, investment fraud is very common, especially with seniors. We report on several different kinds of security fraud that includes Ponzi-Schemes, Bad Accounting and Improper Sales Practices.
FINRA arbitrators ordered $1.18 million in damages for 127 clients overcharged on variable annuity share classes by advisor Robert Chen.
Variable Annuity Overcharges Cost 127 Clients $1.2M, FINRA Arbitration Reveals Read More »
FINRA permanently barred former Merrill Lynch broker James Richardson for excessive trading that cost elderly clients $890,000 in retirement losses.
Former Merrill Lynch Broker Barred for Churning That Cost Retirees $890K Read More »
On Wall Street, trust is the only currency that matters. When a broker abuses that trust to line his own pockets, the damage extends far beyond a single account. FINRA announced last week that it
FINRA Suspends Former LPL Advisor for $920K Promissory Note Fraud Against Retirees Read More »
FINRA permanently barred Marcus Delgado for unauthorized trading across 18 retirement accounts at Wells Fargo, causing $3.8M in client losses while generating $487K in commissions.
FINRA permanently barred a former Wells Fargo broker for churning elderly clients’ retirement accounts, causing $890,000 in losses while generating $312,000 in commissions.
Former Wells Fargo Broker Barred for Excessive Trading in Retirement Accounts Read More »
A FINRA arbitration panel ordered a former broker and his firm to pay $4.2 million after selling unsuitable nontraded REIT shares to elderly investors.
FINRA Arbitrators Award $4.2M to Investors in Nontraded REIT Loss Case Read More »
The Securities and Exchange Commission charged a former registered investment advisor with running a $2.3 million Ponzi scheme that preyed on members of his own church congregation. The advisor allegedly solicited more than 40 investors by describing…
SEC Charges Former Advisor With $2.3M Ponzi Scheme Targeting Church Congregation Read More »
A Wells Fargo broker who misappropriated more than $1.7 million from elderly clients has been permanently barred from the securities industry. FINRA issued the bar after investigators found the broker used a web of unauthorized transfers, fabricated …
Wells Fargo Broker Barred for Misappropriating $1.7M From Elderly Clients Read More »
FINRA suspended Gary Goldberg 18 months and ordered $594,590 restitution for unsuitable variable annuity share-class switches that overcharged clients.
Advisor Suspended 18 Months for Overcharging Clients $594K on Variable Annuity Shares Read More »
The SEC has charged an independent broker-dealer for facilitating a $48 million unregistered REIT offering that targeted over 1,200 retirees with misleading distribution reports and inflated yield claims. SEC enforcement action details The Securities and
SEC Charges Broker-Dealer in $48M Unregistered REIT Offering Targeting Retirees Read More »
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