Fraud
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Finra charges B-D chief with using investor funds for home remodelingFinra claims the head of a B-D that packages and distributes illiquid equipment-leasing funds misused investor money to pay for personal expenses including remodeling her house.
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SEC charges mutual fund firm with misleading shareholders on advisersThe SEC has charged a fund firm with misleading shareholders about adviser fees. The action is the latest in the commission's crackdown on mutual fund boards and their fee arrangements.
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Fiduciary backer guilty of fraud
A federal court jury in Idaho has found famed 401(k) fiduciary advocate Matthew D. Hutcheson guilty of 17 counts of wire fraud.
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More woes for BelesisFinra complaint claims brokerage boss committed fraus, tried to intimidate firm's reps
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Be leery of 'bondlike' claims of investment productsWith clients desperately searching for yield, advisers need to be leery of the marketing claims associated with some fixed-income products, warns Bruce Kelly.
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Fiduciary backer Hutcheson found guilty of 17 counts of wire fraudOfficials charged he diverted $5 million in client money; civil case proceeding.
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Finra charges brokerage chief Belesis and firm with fraudFinra has charged brokerage chief Tommy Belesis and his firm, John Thomas Financial, with fraud in a front-running scheme to make $1 million on a penny stock. Bruce Kelly has the story.
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Indictment for 4 execs at DBSI Inc.
Four top executives of DBSI Inc., one of the big-three syndicators of phony private placements that decimated independent broker-dealers in the past decade, were indicted last Wednesday by a federal grand jury in Idaho on 83 charges, including conspiracy to commit securities fraud, wire fraud, mail
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Finra charges discounter to pro athletes with fraudulent salesThe Financial Industry Regulatory Authority Inc. said today that it has filed a complaint against Success Trade Securities Inc., alleging that the online discounter had fraudulently sold more than $18 million in promissory notes to 58 investors, most of them former professional football and
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Officers at Big Three private placement shop indictedFour top officials of DBSI — one of the big-three private placement firms — have been charged with fraud. Bruce Kelly supplies the details.
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Can regulators stave off 'massive increase in senior misery?'Elderly seen as easy target for unscrupulous advisers, fraudsters; Finra zeroing in on complex products
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Judge denies Wells Fargo bid as MedCap suit rolls onA federal judge last Tuesday rejected a request by Wells Fargo & Co. to dismiss a class action brought by investors who lost money in notes issued by Medical Capital Holdings Inc.
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Fiduciary champion gets his day in courtRenowned 401(k) fiduciary advocate Matthew D. Hutcheson's day in court began today when his federal criminal trial got under way.Mr. Hutcheson, a plan adviser who appeared before Congress in 2010 to support applying the fiduciary standard to 401(k) advisers, is facing 17 counts of wire fraud from
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SEC charges Belesis, hedge fund manager with fraudTroubles mount for beleagured B-D owner as Commission files charges; Finra in the wings
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SEC: Ex-Ore. gubernatorial hopeful sold fake Facebook shares
The Securities and Exchange Commission last Tuesday charged financier Craig Berkman, a former Oregon gubernatorial hopeful, with defrauding investors by promising them access to pre-initial-public- offering shares of Facebook Inc. and other social-media companies.
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