The bank disclosed earlier this month that it faces a U.S. inquiry into its purchase of low-income housing credits.

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

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

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

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

Collusion and corruption allegedly prevented Wells Fargo whistleblowers, and a former JPMorgan advisor, from obtaining justice.

The SEC claims Schwab failed to file reports on suspicious transactions by independent advisors.

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.

“Our whistle-blower program is a critical component in our investor-protection toolbox,” SEC Chairman Jay Clayton says.

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