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Melvin Leonard Wimmer Jr. is said to have bilked clients out of their retirement savings.
October 3 -
John Gregory Schmidt allegedly devised a 14-year scheme that straddled his time with Stifel and Wells Fargo.
September 25 -
The Biltmore Capital fund was dissolved at an almost total loss, but not before Caleb Overton raised $2.2 million from 10 investors.
August 23 -
The advisor used about $410,000 to pay back investors in Ponzi-like fashion to keep the scheme alive, the regulator says.
August 10 -
At least 17 individuals invested $13 million in the scheme, and many lost 'substantial portions' of their life savings, prosecutors say.
July 26 -
The funds allegedly paid for summer camp fees and a 1976 Corvette.
July 25 -
Some of the proceeds went to commission a song with the lyrics: “Pop champagne in L.A., New York to Florida; buy another bottle just to spray it all over ya,” says the SEC.
June 19 -
The regulator obtained an emergency asset freeze against the advisor.
June 14 -
The advisor told the client that she could pre-pay her advisory account fees at a discount by writing him a $7,400 check, FINRA claimed.
June 14 -
The broker used the funds to pay his mortgage, FINRA claimed.
June 6