Results for "fraud"

Displaying 1,151 results

Sort: Date | Relevance

Author:

Dawn Bennett found guilty of $20 million Ponzi scheme

October 17, 2018

Former financial adviser Dawn Bennett was convicted Wednesday in federal court in Maryland of 17 charges related to a $20 million Ponzi scheme. Ms. Bennett, 56, was found guilty of all charges, including conspiracy, securities fraud, wire fraud,...

After setting up phony accounts, ex-Wells Fargo broker stole money

October 10, 2018

The Financial Industry Regulatory Authority Inc. on Tuesday barred a former Wells Fargo Advisors broker, who was also a Wells Fargo Bank employee, who stole $2,226 after opening phony accounts using the names of clients. Based in Hilton Head...

State regulators brought hammer down on unregistered advisers more than registered ones in 2017

October 10, 2018

State securities regulators brought more enforcement actions in 2017 against unregistered financial advisers than against those who were registered, an indication in part of the rising number of digital currency fraud cases. In its 2018 enforcement...

Unregistered South Carolina adviser get 6 years in prison for fraud

October 4, 2018

Melvin Wimmer, an unregistered investment adviser in South Carolina who pled guilty to one count of securities fraud in May, was sentenced Tuesday to 75 months in prison. He was also ordered to pay more than $3 million in restitution to clients....

Settlements at old Schorsch REIT could cost shareholders $730 million

October 3, 2018

Vereit Inc., a net lease real estate investment trust, could be on the hook for as much as $730 million in settlement payments stemming from an accounting scandal four years ago when the company was controlled by Nicholas Schorsch, the former...

Merrill Lynch no longer will accept penny stock trades

September 28, 2018

With the Securities and Exchange Commission cracking down on penny stocks, Merrill Lynch recently told its clients and financial advisers that it is putting restrictions on the purchase and sale of a large swath of low-priced securities. "To...

SEC bars Texas adviser for cheating more than 40 investors

September 26, 2018

The Securities and Exchange Commission said on Tuesday it had barred an investment adviser it had earlier charged with lying to dozens of investors in connection with a multi-million-dollar offering fraud. The adviser, Thomas J. Caufield, 59,...

Ladenburg chairman Phillip Frost steps down

September 21, 2018

Dr. Phillip Frost, who was charged this month with fraud, said Thursday evening that he was retiring as non-executive chairman of Ladenburg Thalmann Financial Services Inc. Dr. Frost and nine other individuals were charged Sept. 7 in a Securities...

SEC charges $54 million Louisiana RIA and owners for cherry-picking scheme

September 20, 2018

The Securities and Exchange Commission on Thursday charged a Louisiana-based advisory firm and its two owners — a husband and wife — for defrauding clients via a cherry-picking scheme perpetuated over several years. World Tree Financial...

Chairman should leave Ladenburg Thalmann

September 20, 2018

It's time for Dr. Phillip Frost to resign as non-executive chairman of Ladenburg Thalmann Financial Services Inc., the home of 4,300 retail brokers and financial advisers. The risk to Ladenburg Thalmann's reputation, as well as to the four independent...

SEC charges Michigan-based adviser in $2.7 million investment scam

September 19, 2018

The Securities and Exchange Commission charged a Michigan-based financial adviser with defrauding elderly retirees and other unsophisticated investors out of $2.7 million. ​ According to the SEC, Ernest J. Romer III persuaded at least 30 of...

Determining if a message from Social Security is a scam

September 19, 2018

A financial adviser contacted me recently to ask if the email he received from the Social Security Administration reminding him to review his estimated benefits statement online was valid. "Does Social Security send out these types of emails,...

RIA charged for not disclosing commissions earned from selling risky tech stock

September 14, 2018

The Securities and Exchange Commission is charging an investment advisory firm with selling $13 million of high-risk securities to public school teachers without disclosing the exorbitant commissions the firm collected. A complaint filed Friday...

SEC charges New Jersey-based broker in 'cherry-picking' scheme

September 12, 2018

The Securities and Exchange Commission charged a New Jersey-based broker Wednesday with "cherry-picking" profitable trades for himself and his family at the expense of his clients, a practice that netted him $700,000. Meanwhile, the U.S. Attorney's...

SEC charges two brokers for churning that lost clients $3.6 million

September 10, 2018

The Securities and Exchange Commission charged two brokers with excessive trading in client accounts, also known as "churning," which the agency claims resulted in an aggregate $3.6 million in losses for clients and generated $4.6 million in...

Former HDVest brokers barred for not cooperating in Woodbridge investigation

September 10, 2018

Finra barred two former HD Vest Investment Services brokers who did not cooperate in an investigation of a real estate investment Ponzi scheme. Finra barred Jerry Davis Raines and Donna Lynn Barnard for failing to provide documents and information...

Ladenburg chairman charged with fraud by SEC in penny stock scheme

September 10, 2018

Dr. Phillip Frost, the non-executive chairman and largest shareholder of Ladenburg Thalmann Financial Services Inc. has been charged with fraud by the Securities and Exchange Commission for his involvement in a pump-and-dump, penny stock scheme....

Finra fines Citigroup $100,000 for overcharging clients

September 10, 2018

Citigroup Global Markets Inc. has been fined $100,000 by the Financial Industry Regulatory Authority Inc. for failing to properly supervise the sale of mutual funds to certain retirement plan and charitable organization customers. According...

Former Morgan Stanley broker to plead guilty to insider trading

September 6, 2018

A former Morgan Stanley broker plans to plead guilty for trading on secret tips about pending mergers that were leaked by a Bank of America Corp. consultant, prosecutors said. The broker, Michael Siva, was one of seven people charged with securities...

Financial adviser pleads guilty in NCAA basketball corruption case

September 5, 2018

A financial adviser involved in a wide-ranging college basketball corruption and bribery scandal pleaded guilty to three charges related to his efforts to bribe coaches who were then supposed to steer student-athletes toward his firm. Last September,...

« Previous PageNext Page »

1 | 2 | 3 | 4 | 5 | 6 ... 58

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.