Funds allegedly bankrolled a multi-million-dollar home, luxury cars, and vacation properties.
Two funds. Over a decade. Up to $197.8M in alleged losses.
The scheme allegedly promised investors guaranteed annual returns of up to 10%.
The alleged scheme went undetected while the bank collected over $1M in fees. Northern Trust says it responded "swiftly and appropriately" when it found out about the transactions.
The advisor put in $100. His client allegedly put in $16.5 million.
The advisor allegedly claimed there was "no risk of loss of money."
Investors pulled $150 million while executives claimed "no meaningful pressure."
The broker-dealer claims the surveillance entity is burning through money it never should have collected.
Fund allegedly touted penny stock on Twitter while secretly dumping over a billion shares.
He allegedly guaranteed no losses. His clients lost up to 89% of their money.
