Insights
November 28, 2016
Levi David Lindemann, a Minnesota investment advisor, received a six-year prison sentence for stealing from clients and operating a Ponzi scheme, according to the Minnesota Department of Commerce. Lin...
November 22, 2016
Everyone knows the name Bernie Madoff; he’s the man whose Ponzi scheme defrauded investors out of $65 billion , a scheme considered the largest act of financial fraud in history . What many investors ...
November 3, 2016
FINRA fined eight firms a sum of $6.2 million and ordered five of them to pay an additional $6.3 million in restitution for failures in supervision that led to the sales of unsuitable variable annuity...
November 1, 2016
The Certified Financial Planner Board of Standards has temporarily suspended Ash Narayan, an investment adviser in Irvine, California, for allegedly bilking professional athletes out of millions of do...
October 24, 2016
This year’s National Investor Town Hall Meeting, hosted by the Alliance for Investor Education and The PIABA Foundation, will feature a panel with firm founder Richard Frankowski. The event is free an...
October 21, 2016
FINRA suspended former LPL Financial broker Mark Tauzin for engaging in unsuitable short-term trading of unit investment trusts as well as maintaining blank, signed forms in customer files. He was sus...
October 18, 2016
Debra Ferrara, a former client administrator at Morgan Stanley, was fined and suspended by FINRA for fraudulently transferring a total of $108,680 out of a client’s account to third party bank a...
October 13, 2016
Sam Wyly, an ex-Texas billionaire who has declared bankruptcy, will pay $198.1 million to settle federal securities regulator claims accusing him of securities fraud to hide trades in companies that w...
October 13, 2016
Wells Fargo & Co. is facing more legal trouble after the bank’s recent cross-selling scandal was revealed last month. A participant in Wells Fargo’s 401(k) plan brought suit against th...
October 7, 2016
Massachusetts is seeking a censure, cease and desist and equitable relief for customers after charging Morgan Stanley with conducting an unethical sales contest, according to a recent Investment News ...
September 27, 2016
The SEC charged an ex-microcap CEO and a boiler room operator with pressuring senior citizens and other investors to purchase penny stocks in a $20 million fraud. Craig V. Sizer is the former CEO of S...
August 12, 2016
Two days after Yale, MIT, and NYU were sued for excessive 403(b) fees in their retirement plans, attorneys have added four more universities to the suit: Duke University, Johns Hopkins University, the...
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