Regulatory & Compliance (307)
Fugitive FA Ordered to Pay $12M
- Tuesday, 14 June 2022
- Regulatory & Compliance
- Written by PFA News
The FBI still has not found fugitive financial advisor and radio host Chris Burns, who has been missing for two years, but a federal court has ordered him and his companies to pay more than $12 million. So reports the Atlanta Journal-Constitution.
Read more...SEC: TradeZero Deceived Customers about Meme Stock Trading Halts
- Friday, 27 May 2022
- Regulatory & Compliance
- Written by PFA News
The Securities and Exchange Commission charged broker-dealer TradeZero America Inc., and its co-founder, Daniel Pipitone, with falsely stating to the firm’s customers that they didn’t restrict the customers’ purchases of meme stocks when in fact they did.
Read more...SEC: TradeZero Deceived Customers about Meme Stock Trading Halts
- Friday, 27 May 2022
- Regulatory & Compliance
- Written by PFA News
The Securities and Exchange Commission charged broker-dealer TradeZero America Inc., and its co-founder, Daniel Pipitone, with falsely stating to the firm’s customers that they didn’t restrict the customers’ purchases of meme stocks when in fact they did.
Read more...FA Steals 330k from Client to Pay Rent, Payroll and More: FBI
- Saturday, 30 April 2022
- Regulatory & Compliance
- Written by PFA News
FA Adam Belardino of the Maddox Group is accused of embezzling more than $313,000 from Damian Williams, a 64-year old client. So reports Patch.
Read more...Illinois Advisor Gets 4+ Years in Jail for Fraud
- Sunday, 03 April 2022
- Regulatory & Compliance
- Written by PFA News
Illinois Advisor Naseem Salamah has been sentenced to four years and four months in federal prison for financial fraud.
Read more...Ex-Wells Fargo FA Suspended for Executing Trades for Dead Client Without Permission
- Sunday, 03 April 2022
- Regulatory & Compliance
- Written by PFA News
A financial advisor that has already been booted by Wells Fargo has been suspended by FINRA for trading in a dead client’s account without permission. So reports Financial Advisor.
Read more...Advisor Says SEC 'Bullying' Her, Vows to Fight Lawsuit
- Friday, 11 March 2022
- Regulatory & Compliance
- Written by PFA News
The SEC has filed a civil suit against financial advisor Cassandra Toroian and her firm, Bell Rock Capital, claiming she defrauded clients. So reports Delaware’s Cape Gazette.
Read more...Banned FA Headed to Jail Over Disability Benefits Scam
- Tuesday, 01 March 2022
- Regulatory & Compliance
- Written by PFA News
Charles E. Severt Jr., 52, of Ohio, was sentenced to two years in jail for crimes related to stealing more than $370,000 and lying to investigators. So reports Dayton Daily News.
Read more...Wells Advisor Stole $2.7M+ from Elderly Eye Doc, Lawsuit Alleges
- Monday, 14 February 2022
- Regulatory & Compliance
- Written by PFA News
Dr. Kenette Sohmer, a 77-year-old eye doctor in New Jersey, says Kenneth Welsh, her Wells Fargo financial advisor, ripped her off to the tune of more than $2.7 million. So reports The New York Post.
Read more...FA Gets 16+ Years in Jail for Defrauding Dad, Other Clients
- Monday, 14 February 2022
- Regulatory & Compliance
- Written by PFA News
North Carolina FA Russell Joseph Mutter has been sentenced to at least 16 years and three months in jail for defrauding clients, including his dad, out of more than $3 million. So reports the Associated Press.
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