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.
Wells Fargo and UBS also add advisors from Morgan Stanley, Edward Jones, Merrill and Fidelity in a fresh round of wirehouse recruiting
How we got here – and what to do about it
AI trust gap: Americans want protection, not autonomy, in their finances
One in three of Goldman's 109 new partners comes from asset and wealth management, signaling the division's growing strategic weight.
Three firms secure experienced wealth management teams as advisor recruiting competition intensifies across the US.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
