Law and legal issues

A 53-year veteran broker who filed a complaint as a client after airline stock values plummeted has received a $595,000 settlement.

Keith Todd Ashley has been arrested, jailed and indicted multiple times in connection to murder, fraud and a fabricated suicide.

Raymond James resolved a million-dollar arbitration claim that won’t appear on anyone’s BrokerCheck, thanks to the panel’s decision.

Federal authorities say ex-PNC advisor Tara M. Brunst acted as a recruiter in a scheme that defrauded 54 people.

While the giant wealth manager has won the balance of 23 decisions so far, it’s facing a wave of cases seeking hundreds of millions in damages.

Democrat-leaning states argue that the $10,000 SALT cap deduction is politically motivated and violates the U.S. Constitution.

The midsize wealth manager racked up millions of dollars in sales of an alternative product without adequate due diligence, according to FINRA.

If approved, the agreement would resolve claims over two security breaches that compromised personal information of 15 million current and former clients.

From stealing millions to murder investigations, here are 13 big crime and court stories covered by Financial Planning in 2021.

The firm will pay restitution and fines to settle allegations that it failed to flag more than 100 client accounts for overconcentration in high-yield bonds.

JPMorgan Chase executives were supposed to make sure employee communications were archived for regulatory scrutiny. But for years, even the bosses were using their mobile phones to tap out work-related messages — a practice so pervasive that U.S. authorities dropped the hammer Friday, imposing $200 million in fines.

The orders from FINRA and the SEC respectively fault the firms for unsuitable rollovers and deficiencies exposed in a microcap scheme.

Paul Ricky Mata started a real estate scheme in 2008 that allowed him to drain more than 100 victims of millions. His victims will never fully be repaid.

Former rep Edward L. Turley has at least five other pending arbitration cases seeking more than $62 million in damages.

Gwen Campbell is pursuing mandatory arbitration with the Wall Street institution over allegations that its private bankers aggressively courted her star clients.

The former Merrill Lynch, Wells Fargo and Citigroup broker who spent five years stealing from his friends and family to live a luxurious life will now spend even longer behind bars.

Jeffrey Slothower, a former registered investment advisor and founder of Battery Private, has been charged with wire fraud, investment advisor fraud and money laundering.

The U.S. brokerage arm of the Swiss bank must pay damages under a FINRA arbitration case otherwise found to be ‘clearly erroneous.’

JPMorgan Chase is preparing to pay roughly $200 million to resolve U.S. regulatory investigations into lapses over monitoring employee communications.

The ruling may offer hope for Gwen Campbell, who alleges that JPM’s private bank is “poaching” and “siphoning” her celebrity clients’ assets away from her management and paycheck.