The Ponzi-like scheme used investor funds to pay other investors’ debts and cover personal expenses.

The advisor convinced the couple to transfer their retirement savings, but they claim the money never made it to their accounts. Their attorneys say there are other victims.

The dirty little secret about elder exploitation is that almost 60% of cases involve a perpetrator who is a family member, according to a 2014 study.

State regulators and the No. 1 IBD struck a settlement after investigators found the firm guilty of negligence and a failure to supervise.

The advisor fooled her victims into thinking she would invest their funds when in fact she used the money to buy luxury items and real estate, prosecutors claim.

The defrauded clients included the advisor’s own in-laws, who had suffered from Alzheimer’s and a debilitating stroke.

The payout brings the distribution to more than $1.2 billion, a fraction of the more than $50 billion scam.

One couple in their eighties invested more than $700,000 with the alleged schemers, representing almost the entirety of their cashed-out pension, regulators say.

A recent report about bad incentives for brokers "did not accurately reflect how we do business and serve our clients," said Jon Weiss, head of wealth and investment management.

The Justice Department disclosed a felony probe the day before the broker’s termination.

Many of the trades should have triggered market manipulation concerns because they involved companies that were barely operating but engaging heavily in promotional activity, the SEC says.

The broker misappropriated his clients’ investment money for rent, credit card bills and other personal uses, investigators say.

The regional BD failed to properly document its own investigations in the matter, and couldn't answer some SEC questions about who knew what and when, the regulator says.

The two IBDs have agreed to pay restitution in one of the largest securities fraud cases in the advisor’s home state.

The organization awarded millions to firm insiders that provided information in a 2016 case against BofA.

Seniors should consider designating joint agents, reviewing the security features on their financial accounts, and having their names removed from credit card solicitations.

The FBI has reportedly interviewed employees at the bank’s wealth management unit.

Investors were bilked out of approximately $611,000, say federal prosecutors.

Pinnacle Investments tapped Ami Forte despite her ongoing legal struggles with her former firm and Home Shopping Network founder Roy Speer’s estate.

Citing mounting investor losses from unpaid arbitration awards, investor advocates see a role for Congress to force FINRA's hand.