Litigation

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.

Her fresh criticism comes after FINRA barred her former Morgan Stanley branch manager this week.

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 client, who was the co-founder of the HSN, suffered from dementia and was declared legally incompetent, according to a FINRA letter of acceptance, waiver and consent.

One JPMorgan client thought it was “odd and weird” that the advisor called during the Memorial Day holiday, on behalf of Merrill Lynch.

One of the arbitrators on the three-member panel should have been disqualified, according to the petition.

Robert Dekas claimed the firm breached its fiduciary duty by executing trades in unsuitable investments, says the regulator.

The fraudulent investments advertised guaranteed returns of up to 8% annually, the regulator says.

Howard Price III used the funds to make purchases at clubs, bars and restaurants, say regulators.

With the federal government standing down, attorneys general from California, New York and Oregon make a late appeal to save the rule.

Kwame Brown has played for teams such as the Los Angeles Lakers and Washington Wizards.

Former advisor Paul Marshall's prison term "will be little solace to the dozen victims who lost their life savings due to his greed and callous concern for their well-being,” the FBI says.

The firm says former employee John Lockette agreed to have disputes heard in a private forum when he did not take advantage of an opt-out provision.

Clients thought they were investing in real estate developments that would be flipped for profit.

Overall, the advisor defrauded at least nine clients out of $1 million, which he used to pay for tuition and mortgage payments, federal prosecutors say.

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

A company’s refusal to hire a candidate because their work authorization papers will ultimately expire “may constitute illegal discrimination,” according to the Department of Homeland Security.

Former CEO Mark Casady disclosed in arbitration testimony what led to the firing that resulted in a $30 million claim against the firm.

The advisor, a former employee, has been soliciting more than two dozen clients at the bank, JPMorgan says.