Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Ex-Advisor Pleads Guilty to Role in $9.3M Ponzi Scheme
By Jeff BermanThe ex-advisor allegedly sold to clients investments misrepresented as annuities and secured notes with no risk of loss.
January 04, 2022
Morgan Stanley to Pay $60M Over Data BreachesThe firm allegedly failed to wipe client data from computer equipment it decommissioned and resold.
December 21, 2021
Ex-OppenheimerFunds Analyst Pleads Guilty to Securities FraudThe New York funds analyst had been accused of misappropriating confidential info on pending trades by his employer.
December 16, 2021
Wedbush to Pay More Than $1.2M Over Unregistered Microcap Securities SalesThe firm also failed to report suspicious transactions, the SEC alleged.
December 15, 2021
Ex-Ameriprise Rep Who Defrauded Retirees Gets 14 Years in PrisonThe former broker scammed clients out of over $12 million as part of a real estate investment scheme.
December 13, 2021
Ex-Broker Charged With Murdering Client May Also Face FINRA SanctionsFINRA filed a complaint against the ex-broker, awaiting trial in prison, after he failed to cooperate with a fraud investigation.
December 13, 2021
7 Worst Bogus Advisors in America: 2021The head of an investment club called Amongst Friends and a dentist were among those accused of running investment scams.
December 10, 2021
Ex-LPL Rep Sentenced to 2½ Years in Prison for Stealing From Retired ClientThe former broker was also ordered to pay $639,580 in restitution and a special assessment of $100.