Despite move to charging fees over commissions, broker-dealers and advisors still love to push expensive investments.
The Securities and Exchange Commission last summer filed charges against Georgia-based First Liberty Building & Loan.
But the firm claims the deals it sold are sound and should be separated as the court proceeds.
Moloney Securities recently has had the attention of securities regulators due to its sale of high risk, high cost private investments, including GWG bonds.
The firm closed four advice firm transactions last year, not counting other recruiting deals.
It’s been a downward spiral in recent years for Komarow, who was featured in InvestmentNews in May 2021.
As part of the fraud, Darryl Cohen allegedly used clients’ money to build a gym in the backyard of his home.
Clients rush to the exits in giant BDC as concerns about private credit mount.
Mariner “willfully and maliciously misappropriated the book of business” of advisor James Hyre, a new lawsuit alleges.
Meanwhile, some business development companies have started slashing dividends.
