Sue Asci
Boston Bureau Reporter at Investment News. Connect with her on LinkedIn.
Boston Bureau Reporter at Investment News. Connect with her on LinkedIn.
The Securities and Exchange Commission today charged a Brooklyn money manager with running a $40 million Ponzi scheme in which he allegedly promised investors that their money would be used for safe investments — but apparently spent the money on real estate and a mail order pornography business.
The Financial Industry Regulatory Authority Inc. last week barred two brokers in separate actions, charging that they ran Ponzi schemes that victimized dozens of investors, including the elderly or mentally and physically disabled.
An Alabama bank is suing University of Michigan football coach Rich Rodriguez for defaulting on a real estate loan — but his adviser claims that the coach was the victim of a Ponzi scheme.
For the first time, American Funds shareholders this fall will be voting on whether to ask the boards of directors of 16 funds to institute a divestment policy against companies that do business in countries that practice genocide or tolerate crimes against humanity.
As wildfires blazed through Angeles National Forest last week, advisers who had weathered other such natural disasters kept their data safe and found ways to connect with their clients.
To help its players prepare for a potential lockout in 2011, the National Football League Players Association is stepping up financial education for members this year with a new web-based planning tool.
Many taxpayers believe that they are safe from Internal Revenue Service audits after a certain number of years have passed, but as Stanley Kirk Burrell — better known as Grammy-award-winning rapper MC Hammer — can attest, that isn't always the case.
Clients will be able to rate their financial advisers using a website launched this week.
Preserving the traditional definition of a fiduciary is the biggest challenge facing the National Association of Personal Financial Advisors, according to William Baldwin, who officially began his one-year term as NAPFA's chairman yesterday.
Invest Financial Corp. has established additional partnerships with four banks, the firm announced today.
