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Top Ten Worst FAs of 2021: Think Advisor

Many of the advisors on this dubious list are accused of running ponzi schemes and other financial transgressions, but not all of them: one is charged with murder. So reports Think Advisor.

thumb down 1426814 640On the list are:

#10 Marcus E. Boggs: This ex-Merrill brokers admitted to wire fraud and scamming clients out of more than $3M. He’s been sentences to three and a half years behind bars.

#9 Daryl Bank: Sentenced to 35 years in jail, this ex-Capitol Securities Management broker was involved in a nationwide investment fraud scheme. The crime involved more than 300 mostly older victims and $25 million in losses.

#8 John J. Woods: The SEC has accused Woods and Horizon Private Equity III of a $110 million Ponzi scheme involving more than 400 investors in 20 states.

#7 Brian McQuade: This barred advisor has been indicted for wire fraud and a scheme to steal $750,00 from a non-profit for wounded military vets.

#6 William Neil ‘Doc’ Gallagher: Radio personality ‘The Money Doctor’ and ex-advisor ran a Ponzi scheme that swindled $32 million from senior citizens. For his efforts, Gallagher, 80, was sentences to three lifetimes in jail, plus an additional 30 years.

#5 Roderick Len Whited: the ex-Northwestern Mutual Investment services broker-advisor is accused by FINRA of directing more than $44,000 in charitable donations to a fundraising event for kids with cancer to his own bank account.

#4 Eileen Cure: LPL cut ties with Cure after investigating accusations that she refused to hire Black applicants.

#3 Scott Jay Matalon: Terminated by Capital Markets, Matalon was arrested for kidnapping and beating a woman. He pleaded not guilty. He was also arrested three weeks prior for allegedly beating another woman and charged with domestic battery in that case.

#2 Gregory Estes: A registered sex offender since 2002, Estes was charged this year with child sexual assault and indecent assault of an adult. He was with SA Stone Wealth Management.

#1 Anthony Duwayne Turner: Charged with killing his former girlfriend, who was also a colleague at Bank of America. He is charged with felony murder and first-degree residential burglary.

Read the full article from Think Advisor.

 

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