Financial crimes

A former rep has drawn at least 30 claims after pleading guilty to fraud, while clients of another ex-LPL advisor are seeking damages five years after his initial arrest.

Her hospitalized client's accounts had more than $14 million in transactions over a nine day period, according to FINRA.

He used investor money for his $6.7 million home and $3.1 million for chartering planes and personal travel, according to prosecutors.

The regulator’s move follows a Financial Planning investigation into whistleblowing by former JPMorgan financial advisor Johnny Burris.

NASAA’s annual survey of regulators sheds light on legal proceedings against BDs, RIAs and unregistered firms that often go unnoticed in the wider industry.

Elias Herbert Hafen, “every client’s worst nightmare,” could face years in jail. The wirehouse says it is repaying clients.

Following a plea agreement, Bradley Mascho is sentenced for his role in defrauding investors of more than $20 million.

The agency's goal of trying to recover client losses allows advisors accused of fraud to decide who'll manage their clients’ remaining assets.

Over a nine-year period, he allegedly defrauded clients of more than $2.1 million.

At this stage it's not an actual data breach, but it could become one.