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Charles Banks pleaded guilty to wire fraud related to loan refinancing for sports merchandising venture Gameday Entertainment.
April 4
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A roundup of planners and brokers who drew regulatory scrutiny for alleged misconduct.
April 3
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A federal judge issued a restraining order and a temporary asset freeze against the former broker.
March 28
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The former adviser allegedly pocketed more than $300,000 from trades involving pharmaceutical stocks.
March 21
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The barred broker used $2.5 million in client funds to buy a waterfront home in Rhode Island, authorities say.
March 17
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Even in the present deregulatory climate, the Treasury Department is pressing ahead with a rule to require advisors to screen for and report suspicious activity.
March 8
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The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.
February 27
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“It starts out small,” the advisor told his compliance officer, authorities say. “You think you are going to pay it back.”
February 24 -
A Senate bill would provide liability protections for advisors who report suspected abuse of senior clients.
February 21
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The former broker, who pleaded guilty to securities fraud last month, allegedly promised clients returns of up to 15% and used proceeds for personal expenses.
January 4
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Charles J. Dushek allegedly made trades without designating in advance whether he was trading personal money or client assets.
December 21
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The firm’s review process is called "paper-thin" after an adviser is charged with selling retirees unsuitable variable annuities and fabricating client information.
December 2
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Friends and business associates lost $2 million in a Ponzi-like scheme.
November 2
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Regulator comes down hard on compliance failures; additional $6.3 million must be paid back to investors.
November 2
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One of the sanctioned advisers has 26 disclosure events listed on his FINRA BrokerCheck record while remaining in good standing with Ameriprise.
October 21
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Prosecutors served a warrant seeking names of employees who opened unauthorized accounts, as well as the bank’s fee structure and a calculation of losses suffered by affected customers.
October 20
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Paul T. Lebel excessively traded shares that carried large front-end loads and "willfully disregarded the customers' interest," the agency said.
October 19 -
The former RIA and fund advisor was cited for multiple fiduciary violations in a day-trading scheme, pocketing profitable trades from a pooled account while burdening clients with the losses.
October 5 -
An ex-American Realty Capital executive allegedly overstated a key accounting metric by roughly $13 million, according to the SEC and federal prosecutors.
September 8
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The RIA owner got insider tips from an attorney drunk on several glasses of wine, according to the SEC.
August 17
