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Twin Brothers Misappropriated $5M From Clients, SEC Alleges  

The SEC has filed suit against identical twin brothers that it claims misappropriated more than $5 million from at least 60 of their investment advisory clients. So reports Think Advisor.

justice 2071539 640 smallIn a complaint filed in a New York federal court, the regulator alleges that Adam Scott Kaplan and Daniel Evan Kaplan fraudulently overcharged clients while they were investment advisor representatives with an SEC-registered investment advisor from May 2018 through their July 2021 termination.

Although the SEC complaint didn’t name the RIA, the Financial Industry Regulatory Authority’s BrokerCheck shows it was IHT Wealth Management, which didn’t respond to Think Advisor’s request for comment.

Read the full article from Think Advisor.

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