Willie Cabbil worked for General Motors for 30 years, at one point as a janitor, only to lose his $340,000 retirement savings in 2011 to former Resource Horizons Group broker, Robert Gist.

FINRA arbitrators found that Gist ran his advisory practice like a Ponzi scheme and used the retirement of the 62-year-old retiree from Alabaster, Ala., to pay other clients' returns on a non-existent investment.

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