Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
July 01, 2022
Ex-Broker Pleads Guilty to Bilking More Than 100 InvestorsRobert Louis Cirillo also admitted to filing tax returns that failed to report income from the scam, prosecutors said.
June 27, 2022
Next 2 Court Dates Set for Suspect in BofA Exec Michelle Avan's KillingAnthony Duwayne Turner is charged with felony murder and first-degree residential burglary in the death of his former girlfriend and colleague.
June 21, 2022
July Court Date Set for LPL Network Firm Employee Charged With Double MurderRamy Fahim is charged with killing his co-worker at an LPL Network RIA firm and the co-worker's roommate.
June 13, 2022
Wells Fargo in Criminal Probe Over Fake Job Interviews: ReportThe U.S. attorney's office in Manhattan is investigating, according to The New York Times.
June 10, 2022
Advisor Hunted by FBI Is Ordered to Pay $12MAdvisor Christopher Burns disappeared in 2020 after allegedly scamming about 100 investors.
June 09, 2022
Client Sues Broker for Losing Her $1M Divorce SettlementThe client, 64, must now work at Uber and DoorDash to make ends meet, according to a lawsuit.
June 09, 2022
Edelman Financial Engines Sues Former Advisor for Poaching ClientsEdelman's suit contends that Scott Butera resigned abruptly and has taken at least 21 client accounts to LPL, breaching his contract.
June 07, 2022
Fake Financial Advisor Gets 4.5 Years in Prison for FraudThe defendant used some of the $3 million scammed from clients for gambling and to make Ponzi payments.
June 03, 2022
Charles Schwab Hit With Class-Action Suit Over TD Ameritrade DealSchwab's retail clients have made less money from trades and faced increased transaction costs since the merger, the lawsuit asserts.
June 02, 2022
401(k) Group Sues DOL Over Crypto CrackdownThe lawsuit "challenges DOL's arbitrary and capricious attempt to restrict the use of cryptocurrency in defined contribution retirement plans."