FINRA’s National Fraud and Financial Crimes Detection Programs has sent 50 cases to the SEC involving potential fraud by public companies related to COVID-19. So reports Think Advisor.
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Since the turmoil that seized the banking sector with the mid-March failure of Silicon Valley Bank, at least 21 advisors have left First Republic Bank, with 13 heading to Morgan Stanley. So reports AdvisorHub.
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Private equity group Reverence Capital Partners is courting suitors for a minority stake in wealth…
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The NFL Players Association has approved UBS to work with current and former players through…
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Phillip Kenner, a former financial advisor from Boston, has been sentenced to 17 years in jail for defrauding several NHL stars, including Michael Peca, Darryl Sydor, Bill Ranford, Bryan Berard, and Sergei Gonchar. So reports Wealth Professional.
Tommy Constantine, a business associate of Kenner’s, was sentenced to 10 years in jail. The scheme, which dated back to at least 2004, involved funneling money to Kenner and Constantine through a struggling prepaid credit card business.
Constantine has been ordered to forfeit $8.5 million and the title to some properties, as well as pay $5.2 million in restitution.
The duo have been in the custody of the Bureau of Prisons since 2013.
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