Displaying 30 results
Mariner Wealth linked to American Century’s rigged hiring scheme
The companies 'explicitly agreed not to hire or recruit each other’s asset and wealth management professionals,' according to a lawsuit.
Minnesota advisor charged in alleged $1.6M wire fraud
An FBI investigation finds the advisor embezzled money meant for clients’ investment accounts to finance her house-flipping business.
Morgan Stanley to pay $249M over block trade probes
The agreement with federal prosecutors ends a years-long investigation and allows the bank to avoid criminal charges.
How to go from ethics awardee to $300K insider trading claims
Goldman Sachs trader denies sharing tips with friends and family.
UBS reaches $1.44B settlement in DOJ mortgage-bond case
The case, which dates back to 2006 and 2007, relates to the issuance, underwriting and sale of the securities.
Former Celsius CEO charged with fraud in latest DOJ crypto case
The SEC, the CFTC and the FTC also filed lawsuits against Alex Mashinsky and his crypto lending company.
Financial planner guilty of tax fraud on behalf of clients
Charities, shell companies and tax evasion schemes leave a Cleveland advisor in hot water.
Finishing jail term for Ponzi, recidivist fraudster sold another: Feds
'A leopard doesn’t change its spots,' one industry attorney said of Wilson Baston of Brooklyn, New York, who had pleaded guilty in 2008 to deceiving hundreds of investors in a Ponzi scheme.
Justice Department and SEC probe Goldman role in SVB
Regulators are looking at Goldman Sachs' role in Silicon Valley Bank's efforts to raise funds shortly before it collapsed in March.
Firms brace for SEC spotlight on electronic communications
Protecting investors from fraudulent, misleading or otherwise problematic electronic communications seems to be of the utmost importance to regulators.
Morgan Stanley in discussions with prosecutors, regulators to resolve block-trading probes
The firm disclosed the investigations last year, and said it faces potential civil liability from allegations that it caused stock prices to drop before completing a block trade.
DOJ cites antitrust concerns over SEC trading-execution reforms
The Justice Department's antitrust division asked the SEC to consider potential impacts of its proposals, including whether smaller pricing increments could increase competition between exchanges and wholesalers, and whether that might affect brokers' willingness to route orders to wholesalers.
UBS, Credit Suisse among banks facing US probe into Russia sanctions
As the Justice Department investigates whether financial professionals helped Russian oligarchs evade sanctions, subpoenas also went to employees of some major US banks.
Social media finfluencers face charges in $114 million pump-and-dump scheme
The defendants allegedly disseminated false and misleading information to their collective 1.5 million Twitter followers to hype interest in certain securities while secretly planning to sell shares at artificially elevated prices, the DOJ charged.
Former chief compliance officer at RIA guilty of $500,000 fraud
According to several news websites, Jennifer Campbell had worked at Pratt Collard Buck Advisory Group, a firm in Buffalo, New York, that closed at the end of last year.
SEC bars adviser already sentenced to 6 years in prison
Martin A. Ruiz took $8 million of client money and spent the vast majority of the funds on personal expenses.
New York adviser pleads guilty to two counts of fraud
Adam Belardino, CEO of the Maddox Group, was charged with embezzling more than $313,000 from one client and fraudulently obtaining commissions on life insurance for another client.
SEC charges former CNBC guest analyst with $3 million fraud
U.S. Attorney’s Office files a parallel criminal charge against James McDonald, who is believed to be in hiding.
Feds charge New York adviser with embezzlement
The adviser, Adam Belardino, had managed the victim’s investments before he founded Maddox Group in July 2019 and persuaded her to transfer $313,000 to Maddox.
SEC charges barred adviser with fraud
David Schamens, who was barred back in 1992 for lying to retail investors, solicited investments in a pooled investment vehicle, but used the money for personal expenses and to repay previous investors, according to the SEC.
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