Financial crimes

The firm’s use of third-party compliance vendors came under scrutiny after an ex-rep pleaded guilty to bilking clients out of $5 million.

Fake name, phony credentials, Ponzi-like payments but real victims — this is what authorities are saying about this business.

James Booth’s seven-year fraud bilked investors out of nearly $5 million.

The Office of the Comptroller of the Currency says JPMorgan Chase’s fiduciary unit lacked sufficient controls to manage risk and avoid conflicts of interest.

Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.

The advisor allegedly carried out a 20-year scheme defrauding at least 15 clients through forgery and misrepresentations.

The advisor allegedly used an omnibus trading account to help himself and hurt his clients to the tune of tens of thousands of dollars, according to the regulator.

The Justice Department filed two counts of wire fraud against the firm but agreed to defer prosecution under a three-year deal that requires the bank to report its remediation and compliance efforts to the government.

Actions hit a nine-year high and restitution climbed to the highest total since 2013 — even before the rule’s heightened scrutiny.

The senior executives, all from the company’s consumer banking unit, agreed to pay six-figure fines in connection with the 2016 unauthorized account scandal.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

The broker hasn't been registered in over a decade, and was using clients’ usernames and passwords to make trades in their self-directed brokerage accounts, according to the regulator.

The former broker allegedly also used his client’s money to pay bills at gas stations, grocery and hardware stores, according to the regulator.

After an SEC lawsuit, Dan Kamensky now faces criminal charges including securities fraud, extortion and obstruction of justice.

The advisor sold securities out of one account to buy a Camaro ZL1 — then resold the car to the same victim, the regulator alleges.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The firm will also pay a penalty and offer to buy back variable annuities the former broker sold to 21 other investors.

During rapid growth, the firm allegedly failed to detect a cascade of red flags.

To thwart a multifactor verification system, he once used a victim’s home phone to authorize transactions.