SEC enforcement

The advisor allegedly carried out a 20-year scheme defrauding at least 15 clients through forgery and misrepresentations.

The advisor allegedly used an omnibus trading account to help himself and hurt his clients to the tune of tens of thousands of dollars, according to the regulator.

The broker hasn't been registered in over a decade, and was using clients’ usernames and passwords to make trades in their self-directed brokerage accounts, according to the regulator.

The former broker allegedly also used his client’s money to pay bills at gas stations, grocery and hardware stores, according to the regulator.

The firm’s National Financial Services allegedly failed to deliver certain basic information to clients in five public offerings of shares in a fuel cell technology company.

The advisor sold securities out of one account to buy a Camaro ZL1 — then resold the car to the same victim, the regulator alleges.

The regulator charged a $1.4 billion hybrid firm over disclosure of its cash sweep arrangements with its clearing firm.

During rapid growth, the firm allegedly failed to detect a cascade of red flags.

The firm allegedly didn't disclose its parent company paid a teacher union entity $10,000 a month “for its exclusive endorsement” as its preferred financial services partner, according to the regulator.

This is the latest case to involve improperly allocating bonds meant for retail customers and instead selling them to other market participants.