Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Vanguard, Morgan Stanley, Pershing Face Class Action Over Paper Statement Fees
By Dinah Wisenberg BrinThe financial firms were sued in federal court over charging for written records of balances and trades.
September 16, 2026
Ex-Edwards Jones Advisor Gets 7-Year Sentence in $10M Fraud Against Elderly ClientThe prison time for Ejiroghene Okuma should send a message to fiduciaries, a prosecutor said.
September 11, 2026
Schwab Must Pay $1.3M After Scam Snags Elderly ClientFunds were wired from an 82-year-old customer's trust account to a crypto firm, his sons' lawyer says.
September 10, 2026
Man Who Bought Hundreds of Snowmobiles With Ponzi Funds Sentenced to 8 YearsStanley Pophal of Wausau, Wisconsin, ran a $14.25 million scheme that funded his lavish lifestyle, prosecutors say.
September 04, 2026
83-Year-Old Pleads Guilty in $11M Ponzi SchemeThe scam by Barbara A. Hirshfield spanned years and involved over 200 victims, prosecutors said.
September 02, 2026
Private Fund Advisors Busted in Ponzi-Like Scheme Against Retirees: SECMark Hanf and Hoai-Nam Chu Phan made material misrepresentations regarding the Pacific Fund and Freedom Fund, a complaint says.
September 02, 2026
Fake NFL Player, Phony Advisor Charged With Swindling at Least 26 Women: DOJA teenager posed as a financial advisor for the bogus San Francisco 49er, prosecutors say.
September 01, 2026
SEC Investigating Florida Advisor Facing Millions in Lawsuits: ReportMichael Watkins is accused of defrauding 13 clients.