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Ex-LPL advisor gets 20 years for fraud ahead of SEC, arbitration cases

Ex-LPL advisor gets 20 years for fraud ahead of SEC, arbitration cases LPL Financial and a former advisor who pleaded guilty to theft and securities fraud must pay at least $3.7 million in disgorgement and arbitration settlements — but the total could climb above $11 million. Terminated ex-advisor Sonya D. Camarco received a 20-year prison [...]

By |2019-03-13T10:19:33+00:00November 6th, 2018|articles|0 Comments

Former Merrill Lynch Financial Advisor Sentenced For Embezzlement

Former Merrill Lynch Financial Advisor Sentenced For Embezzlement TALLAHASSEE, FL B James Ryan Lanier, 33, was sentenced to 106 months in federal prison for embezzling more than $800,000 from Merrill Lynch clients. The sentence was announced by Pamela C. Marsh, United States Attorney for the Northern District of Florida. Between 2008 and 2010, Lanier used [...]

By |2019-03-13T10:20:08+00:00March 8th, 2013|articles|0 Comments

Ex-Wells Fargo FA Faces Embezzlement Charges

Ex-Wells Fargo FA Faces Embezzlement Charges A former Wells Fargo financial advisor in Michigan is facing a felony charge over alleged embezzlement, mlive.com writes. David Homan was arraigned in Bay County District Court on one count of embezzlement between $50,000 and $100,000, which could lead to a 15-year prison sentence, according to the news website. [...]

By |2019-03-13T10:20:49+00:00August 20th, 2018|articles|0 Comments

SEC Charges Investment Adviser With Running $3.9 Million Fraud

SEC Charges Investment Adviser With Running $3.9 Million Fraud Washington D.C., Nov. 2, 2018 — The Securities and Exchange Commission today charged a former registered representative and investment adviser in Altoona, Pennsylvania, with operating a long-running offering fraud. The SEC’s complaint alleges that Douglas P. Simanski raised over $3.9 million from approximately 27 of his [...]

By |2019-03-13T10:21:56+00:00November 2nd, 2018|articles|0 Comments

Remember Bernie Madoff? Big time financial fraud is back

Remember Bernie Madoff? Big time financial fraud is back Ten years ago this December, Bernard Madoff, known as a "broker's broker" to many on Wall Street, told his sons that his business was one big, $65 billion lie. It turned out that Mr. Madoff wasn't the only financial adviser stealing from clients. In the following [...]

By |2019-03-13T10:22:21+00:00October 24th, 2018|articles|0 Comments

Englewood financial advisor arrested on charges of $730,000 securities fraud

Englewood financial advisor arrested on charges of $730,000 securities fraud DENVER — Englewood resident William Gardner, 57, was taken into custody Wednesday, December 23 on charges that include four counts of securities fraud, five counts of theft of $20,000 or more, one count of theft of $5,000-$20,000, and two counts of theft of $500 or [...]

By |2019-03-13T10:22:50+00:00December 23rd, 2018|articles|0 Comments

Financial advisor charged with embezzling

Financial advisor charged with embezzling ROCHESTER HILLS — Federal officials have charged a financial advisor with UBS Financial Services with embezzling more than $3.7 million from his clients. John MacColl, 65, from Rochester Hills, was arraigned Aug. 9 at the U.S. Attorney’s Office Eastern District of Michigan in Detroit, charged with wire fraud in connection [...]

By |2019-03-13T10:23:20+00:00August 14th, 2018|articles|0 Comments

SEC charges local investment adviser, a former math teacher, with fraud

SEC charges local investment adviser, a former math teacher, with fraud The Securities and Exchange Commission has charged the owner of an Indianapolis-area investment advisory firm with violating federal law by selling $13 million in high-risk securities to more than 120 clients without disclosing that the firm stood to receive exorbitant commissions of up to [...]

By |2019-03-13T10:23:45+00:00September 18th, 2018|articles|0 Comments
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