Securities fraud

In a compliance case, the SEC accused LPL of failing to verify conflicting information when it opened a customer account and processed wire transfers.

While the pandemic slowed down investigations and court cases, state regulators continued to chase financial scamsters, data shows.

A new report from PIABA says independent advisors are as bad as brokers when it comes to cheating investors and paying awards.

Brokerages that want to hire someone with a checkered past have to undergo a “consultation” with the watchdog and may have to try to renew their memberships.

‘Millions unaccounted for’ in an alleged 10-year fraud as court freezes assets of dually registered planner and his fund.

Defense cites a heart condition caused by a Brazilian parasite as a reason for lesser time.

Nearly 100 clients Mata allegedly defrauded for $14.5 million have received paltry restitution after exhausting every possible method.

FINRA arbitrators decided not to hold the major custodian liable for transactions prior to 2008, an attorney for the clients says.

John Robert Jones Jr. is accused of convincing two dozen financiers to invest in two private unregistered funds with false promises of growth and limited risk.

Former clients of Isaiah L. Goodman shared the financial losses and other harmful impact of the $2.3-million scheme.

The Advisor Group IBD missed 55 alerts suggesting suspicious disbursements by clients of Hector May, according to the SEC.

The judge declined the barred rep’s request for sentence reduction based on his “severe” bipolar disorder and restitution efforts.

The barred ex-rep funneled clients’ money into a shell company he falsely called a sub advisor, according to investigators.

The barred ex-Mutual of Omaha rep stole from 27 mostly older fellow members of his church, YMCA and local business organizations, investigators say.

After Brooklynn Chandler Willy recommended that the clients invest $100,000 into an LLC, its principals were arrested on federal fraud charges, the filing says.

The wealth managers paid victims restitution prior to one barred rep’s guilty plea and another one’s sentencing.

The broker allegedly spent his client’s money on luxury items then pivoted to a Medicare fraud scam a couple of years later.

Three recent criminal cases raise concerns that wealth managers and regulators aren’t detecting alleged fraud quickly enough or disclosing basic information about crimes and disciplinary problems.

He allegedly used the money to pay gambling debts and credit card bills, according to federal prosecutors.

The 33-year-old advisor allegedly spent clients’ money on luxury items and business expenses for his startup.