Financial crimes

John Gregory Schmidt allegedly devised a 14-year scheme that straddled his time with Stifel and Wells Fargo.

One high-net-worth client with more than $20 million in assets took the majority of the losses, the regulator says.

Dr. Phillip Frost, the principal shareholder of the IBD network’s parent firm, has stepped down, giving way to CEO Richard Lampen.

High-yield notes offering 10% to 18% in annual returns turned out far less lucrative than promised.

The advisor allegedly sold $13 million worth of high-risk securities without disclosing that she earned commissions of up to 18%.

Two of the league's top lifetime earners, Tim Duncan, and now Kevin Garnett, say Banks collectively stole more than $100 million.

The IBD’s advisors did not understand investments they sold to clients, the SEC says.

The agency says the biotech magnate and nine others made $27 million pumping up penny stocks.

More trouble for the embattled company.

The SEC says the 33% owner of the parent of the IBD network participated in unlawful microcap stock sales resulting in “virtually worthless” investments.

Joel N. Burstein allegedly helped his father-in-law defraud foreign investors hoping to immigrate to the U.S.

An advisor kept working with clients, and impersonated others on phone calls with Schwab, the SEC says.

The broker, Michael Siva, was one of seven people charged with securities fraud last year.

Robert Graham allegedly solicited clients into risky investments, which he directed to his private company. He is the ex-chief of the Arizona Republican Party.

Investment firm blamed fat finger error for 90% decline when losses were really due to poor trading.

The client relationship manager is now on a leave of absence, according to Merrill.

The advisor used about $410,000 to pay back investors in Ponzi-like fashion to keep the scheme alive, the regulator says.

An overreliance on disclosure isn't enough to protect clients from bad brokers, the investor advocacy group says.

Confidential emails reveal a top Wells Fargo advisor’s despair after he cried fraud. He could stay at Wells if he was silent, but spoke up anyway — and became a whistleblower.

The barred onetime Questar Capital and Woodbury Financial rep had pleaded guilty to the scam, which he says stemmed from a gambling addiction.