Michael P. Raineri, 63, stole $531,411 from a client's trust account over about six years, according to the U.S Attorney's office.
The fund did not initially win shareholders’ approval during a first round of voting that was tallied on September 4.
But much of advisors' compensation schedule in 2026 will remain the same as this year.
The notes never reached maturity and Vora Wealth Management clients have lost more than $89 million.
The advisor "was making more money with his kickback scheme than working at Merrill Lynch, and he has to pay back more than $5 million," a plaintiff's attorney said.
Beginning in 2021, Lisa Boisselle and her firm Wealthwise solicited clients to invest in two crypto asset-related programs, according to an Arizona cease and desist order.
“I think it’s too little, too late,” said one industry recruiter.
Retail investors are increasingly being pitched alternative investments that focus on private investments.
After finishing second to acquire Commonwealth, Raymond James has come out swinging.
Changes at UBS, LPL Financial and Merrill Lynch spell a bumper year for recruiting.
