Financial crimes

The beleaguered bank is reported to have been ordered by the Justice Department in late 2017 to conduct an independent investigation of the business.

The advisor lured the client into investing $100,000 in what he claimed was a private placement bond but instead deposited the money into his personal bank account, say federal prosecutors.

Spanning 50 federal districts, the case involves criminal and civil charges for as many as 200 defendants.

The advisor fleeced the duo of nearly $1 million by misappropriating their stock holdings and initiating unauthorized wire transfers from their bank account, prosecutors allege.

Advisor "reaped substantial profits" from 65 clients by using block accounts, the regulator says.

A recent scam involved a fake signature from FINRA CEO Robert Cook.

The advisor tricked investors into thinking they would get their money back, with a return, in four to eight years, but they haven't seen a penny returned, the Massachusetts regulator claimed.

Thomas Buck spent 33 years with Merrill Lynch before he was fired in 2015.

The barred advisor and his brother defrauded a widow as part of a real estate investment scheme, according to federal prosecutors.

Commission prioritizes retail investors as OCIE issues its must-read compliance letter.

The stolen funds allegedly went to pay for college expenses and credit card bills, according to federal prosecutors.

Texas securities watchdog derided the advisor for not considering the costs associated with an equity trading strategy he employed for certain clients.

The stolen funds went to pay for his daughter’s college expenses and to reimburse other clients, according to federal prosecutors.

The former Edward Jones broker wanted to get back at his competitor for stealing a client.

Investigators say the broker spent his clients’ money on luxury cars and home improvements.

The convicted fraudster allegedly stole more than $270,000 from his victims, including his mother and ex-girlfriend.

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

Alan J. Foxman looks into his crystal ball and predicts authorities will focus on these key areas.

Caleb Fackrell repeatedly called his behavior “insane” in his testimony, according to transcripts obtained by Financial Planning.

The scheme ensnared about 8,400 investors, the regulator says.