Joel Frank allegedly sold more than $39 million worth of investments in the Equilus Funds to more than 90 investors.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
John S. Winslow, 57, was indicted just over a year ago for his scheme to steal from an elderly client.
Clients sold back $6.9 billion of BDC shares to funds in the first quarter, outpacing fund raising by $2 billion, according to Stanger.
UBS has a history of costly litigation stemming from the sale of volatile investment products.
The writing has been on the wall for Shah’s departure since the end of last year, industry executives said.
Ramy Fahim, a former research associate at Pence Wealth Management, is facing life in prison with no parole.
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.
