Financial crimes

At least 17 individuals invested $13 million in the scheme, and many lost 'substantial portions' of their life savings, prosecutors say.

It is the latest example of how companies are facing pressure to discipline individuals who have abused their position to obtain sexual favors or committed acts of violence and bullying.

The funds allegedly paid for summer camp fees and a 1976 Corvette.

The dispute centered on the firm’s handling of Puerto Rican municipal bonds.

The broker forged client signatures on annuity withdrawal requests and misled clients into making what they thought were tax payments, the SEC claims.

Vitaly Korchevsky was convicted of pocketing at least $14 million by trading securities on information he gleaned from press releases stolen by Ukrainian hackers before they were released publicly.

Vitaly Korchevsky was actually among the victims in a plot involving Ukrainian hackers who allegedly stole thousands of press releases before they were released, his lawyer says.

Scott Wolas assumed other people’s names to pose as a real estate agent, bartender, retired paleontologist and a registered rep, investigators say.

The advisor defrauded some 60 victims by using their money to pay off earlier investors, fund his own speculative trading and pay his personal expenses, the SEC claims.

Company policies were not reasonably designed to detect and prevent misconduct, the SEC claims after one advisor allegedly misappropriated more than $5 million from client accounts.

DaRayl Davis spent client funds on a luxury mansion, theater tickets and car rentals, federal prosecutors say.

Former San Diego Chargers guard Kris Dielman says the independent broker dealer failed to supervise his former advisor.

A FINRA arbitration claim followed an asset freeze and the launch of a federal investigation into the fired advisor’s RIA.

The lawsuit follows a complaint by the SEC alleging that five men and three companies defrauded more than 600 investors.

Advisors recommended that clients sell positions in complex structured products to rack up fees, says the regulator.

The firm agreed to settle and admitted wrongdoing, according to the regulator.

Prosecutors are presenting evidence of his training in securities markets to show that he'd likely know the information was purloined.

Some of the proceeds went to commission a song with the lyrics: “Pop champagne in L.A., New York to Florida; buy another bottle just to spray it all over ya,” says the SEC.

The regulator obtained an emergency asset freeze against the advisor.

The advisor told the client that she could pre-pay her advisory account fees at a discount by writing him a $7,400 check, FINRA claimed.