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An unregistered advisor with little investing experience raised $1.4 million from family and friends and then squandered the money on bad investments, federal prosecutors say.
April 20
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The defrauded clients included the advisor’s own in-laws, who had suffered from Alzheimer’s and a debilitating stroke.
April 19
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The claim alleged negligence, fraud and misrepresentation, according to the regulator.
April 16
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One couple in their eighties invested more than $700,000 with the alleged schemers, representing almost the entirety of their cashed-out pension, regulators say.
April 10
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A recent report about bad incentives for brokers "did not accurately reflect how we do business and serve our clients," said Jon Weiss, head of wealth and investment management.
April 6
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Merrill Robertson Jr. had previously been sentenced to 40 years in prison in a separate criminal case.
April 6
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The Justice Department disclosed a felony probe the day before the broker’s termination.
April 6
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Many of the trades should have triggered market manipulation concerns because they involved companies that were barely operating but engaging heavily in promotional activity, the SEC says.
April 5 -
The bank is said to have been aware of the accusations for years.
April 4
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A former spiritual advisor to presidents George W. Bush and Barack Obama plans to turn himself in as his attorney vows innocence.
April 2
