A Connecticut federal court has entered a final judgment against former investment adviser James T. Booth, who was alleged in an SEC complaint to have operated a multimillion-dollar Ponzi scheme that bilked more than three dozen retail investors of $4 million.
In a parallel action by the U.S. Attorney's Office for the Southern District of New York, Booth pleaded guilty to one count of securities fraud.
On Nov. 18, Booth was sentenced to 42 months in prison followed by three years of supervised probation, and was ordered to pay $4,969,689 in forfeiture.
The SEC earlier barred Booth from the securities industry.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
