Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
March 31, 2021
Schwab Sues Ex-Client Who Won't Return $1.2M Sent by MistakeThe firm alleges that a former client refuses to return money "inadvertently transferred" to her Fidelity account due to a software error.
March 31, 2021
Pa. Proud Boys Leader Charged in Capitol Riot Did Stint as Merrill Call Center RepZachary Rehl was arrested and charged with six counts.
March 29, 2021
10 Worst Financial Advisors in America: 2020Last year's worst advisors allegedly ran Ponzi schemes, stole from the elderly and veterans, and one was even charged with murdering a client.
March 29, 2021
Supreme Court Signals Narrow Ruling Likely on Goldman Investor SuitThe clash is the court's first over shareholder lawsuits since former President Donald Trump appointed three justices and created a 6-3 conservative majority.
March 26, 2021
Ex-Morgan Stanley Advisor Who Defrauded Seniors Gets 5-Year Prison SentenceThe former advisor and broker had pleaded guilty last year to charges of wire and investment advisor fraud for stealing more than $6 million from clients.
March 26, 2021
CFP Board Suspends Former UBS Broker Charged With Defrauding ClientsThe ex-broker and RIA was charged with first-degree conspiracy for allegedly conspiring to defraud investors and mortgage lenders.
March 25, 2021
Edward Jones to Pay $34M in Racial Bias SuitThe suit alleged that Edward Jones denied advancement opportunities to Black advisors because of their race.
March 23, 2021
Ex-Wife of Advisor Hunted By FBI Tells Him to Give UpThe Atlanta-area advisor went missing in September. "I had no idea who I was living with," his ex-wife says.
March 19, 2021
Former New York Life Broker Convicted of Stealing $1M From Elderly ClientA federal jury convicted the ex-broker on 11 counts of mail fraud, 11 counts of wire fraud and two counts of aggravated identity theft.
March 12, 2021
Unregistered Investment Advisor Pleads Guilty to Securities FraudHe took millions of dollars of client money out of the funds he managed to repay other investors, prosecutors said.