According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
Congressional hearings in March laid bare the severe doubts some lawmakers in Washington have about FINRA, the giant self-regulatory organization that oversees the securities industry.
One-time FSC Securities branch compliance officer awarded $750,000 of punitive damages as part of claim.
“If the court accepted UBS’s argument, it would open the courthouse doors to every losing party following an arbitration award of punitive damages,” a federal judge wrote.
But competing wealth management firms have been doing their best to recruit away Commonwealth advisors.
Miles Burton Marshall faces up to 12 years in prison when sentenced in June.
Bradley Heppner was close to $25 million over budget on refurbishing his Dallas mansion, according to contractor.
Wealth management firms are facing more pitfalls when it comes to WhatsApp.
Fidelity was under cyberattack for three days in the summer of 2024.
A number of financial advice firms over the past several years have reported similar data breaches.
