Results for "fraud"

Displaying 888 results

Sort: Date | Relevance

Author:

Texas legislature passes law protecting seniors from financial abuse

May 24, 2017

A law making it more difficult to exploit seniors financially has passed both houses of the Texas Legislature and is on its way to the governor for signature. House Bill 3921 gives banks and securities firms the authority to place a temporary...

Millions go to Madoff fund lawyer, nothing for investors

May 23, 2017

A firm hired by the U.S. to distribute $4 billion to victims of Bernard Madoff's Ponzi scheme has racked up $38.8 million in billings over four years. The investors are still waiting for their first checks, though. The Justice Department disclosed...

Nicholas Schorsch 'highly focused' on cash-flow metric at center of alleged ARCP fraud: Feds

May 18, 2017

Nicholas Schorsch, the former executive chairman of the giant REIT American Realty Capital Properties Inc., now called Vereit Inc., had a keen interest and was "highly focused" on a cash-flow metric that the federal government alleges was at...

Former SEC accountant pleads guilty to illegal securities trading — and then lying about it

May 9, 2017

A former SEC accountant has pleaded guilty to filing false ethics forms in order to conceal his illegal options trading while working at the agency. David R. Humphrey, who worked in the Securities and Exchange Commission's Division of Corporate...

Passwords to become passé as more firms back biometrics

May 2, 2017

Financial advisers and their clients increasingly will find they need to keep fewer passwords top of mind as new technologies move financial services firms to safer forms of identity authorization, such as biometrics. "There's a big wave in...

Court enters judgment against Connecticut adviser for Ponzi scheme

May 2, 2017

A federal court in Connecticut has entered a judgment against adviser Mark J. Varacchi and his firm, Sentinel Growth Fund Management, for allegedly stealing $3.95 million of investor assets in a hedge fund Ponzi scheme. The court also entered...

Jailed former LPL rep faces SEC fraud charges

April 27, 2017

Thomas Edward Andrews, a former broker with LPL Financial in rural Utah who's now in federal prison, has been charged by the SEC with defrauding 23 investors. Also included in the charge is his former assistant, Scott Christensen, who also is...

Finra bars former UBS broker

April 27, 2017

A former broker with UBS in New Albany, Ohio, has agreed to a Finra letter of acceptance, waiver and consent barring him from the securities industry. According to the Financial Industry Regulatory Authority Inc., Ronald Broadstone allegedly...

Consultant tells advisers to start early to help clients deal with issues surrounding aging

April 25, 2017

The best time to help clients deal with issues pertaining to aging is before any decline begins, according to an expert who specializes in training financial advisers and other professionals in such situations. Amy Florian, CEO of Corgenius,...

Former RIA gets year probation for obstructing SEC investigation into referral fee

April 21, 2017

An investment adviser barred from the industry for making referral payments to an attorney for access to a wealthy client was sentenced in federal court in Boston on Thursday to a year of probation, according to the U.S. Attorney's Office. John...

Ex-Merrill Lynch broker pleads guilty to $8.7 million bank fraud

April 19, 2017

A veteran Merrill Lynch broker based in St. Paul, Minn., pleaded guilty to two counts of bank fraud at the end of last month for his part in an elaborate, long-running scheme that bilked two banks out of $8.7 million. The broker, Jeffrey Kluge,...

Supreme Court to hear financial adviser case involving disgorgement

April 17, 2017

The Supreme Court will hear arguments Tuesday in a case brought by a financial adviser that could determine whether there are limits on how much advisers have to pay the Securities and Exchange Commission in disgorgements. The case, Kokesh v....

Finra arbitration panel awards Wilbanks Securities investor $1 million for misleading sales pitch on variable annuity

April 14, 2017

Finra arbitrators awarded an investor more than $1 million for what she alleges was a Wilbank Securities Inc. broker's misleading sales pitch about a variable annuity that over-promised and under-delivered. Grace S. Huitt won a total of $1,073,440...

Former LPL broker sentenced to 3 1/2 years in prison for robbing elderly, infirmed client

April 12, 2017

A federal court in Hartford, Conn., has found a former broker guilty of stealing $1.2 million from a client and sentenced him to prison for 41 months and ordered him to pay restitution. Robert N. Tricarico, 60, who began his career as an adviser...

Be vigilant about scams and fraud involving elder clients

April 3, 2017

With the aging of baby boomers, advisers are warned to be vigilant about financial elder abuse, fraud and scams. The National Adult Protective Service Agency reports that more than one in 10 (11%) of seniors have been financially abused or exploited...

SEC bars ex-LPL broker already serving 12-year prison sentence

March 31, 2017

The Securities and Exchange Commission on Thursday filed an order to bar a former LPL Financial broker, Thomas Caniford, who pled guilty in state court in Canton, Ohio, in 2016 to 135 counts, including securities fraud, publishing false statements...

Lessons advisers have learned on preventing elder financial abuse

March 31, 2017

Sixty-two percent of financial advisers surveyed by InvestmentNews have seen or suspected financial abuse of an elderly client at least once, but 56% of those respondents did not report their concerns. Here are some of the lessons advisers have...

Finra bars broker charged in NY pension fund hookers, strippers and drug scandal

March 29, 2017

The Financial Industry Regulatory Authority Inc. has barred one of the brokers charged in December for participating in a "pay-for-play" bribery scheme involving the $184 billion New York State Common Retirement Fund, one of the largest public...

Broker, RIA found guilty of $15 million stock fraud

March 24, 2017

In a case involving 100 investors who lost more than $15 million, broker Christopher Cervino of Franklin Lakes, N.J., and Sheik F. Kahn, a registered investment adviser in Las Vegas, Nev., have been found guilty of securities fraud by a federal...

Community bank B-D fined for selling seniors unsuitable investments

March 23, 2017

Investment Professionals Inc., a broker-dealer based in San Antonio, Texas, has been ordered by the Massachusetts Securities Division to pay a $100,000 fine for having sold unsuitable investment products to senior citizens. IPI, whose representatives...

Next Page »

1 | 2 | 3 | 4 | 5 ... 45