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Finra charges B-D chief with using investor funds for home remodeling
Finra 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.
SEC charges mutual fund firm with misleading shareholders on advisers
The 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.
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.
More woes for Belesis
Finra complaint claims brokerage boss committed fraus, tried to intimidate firm's reps
Be leery of 'bondlike' claims of investment products
With clients desperately searching for yield, advisers need to be leery of the marketing claims associated with some fixed-income products, warns Bruce Kelly.
Fiduciary backer Hutcheson found guilty of 17 counts of wire fraud
Officials charged he diverted $5 million in client money; civil case proceeding.
Finra charges brokerage chief Belesis and firm with fraud
Finra 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.
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
Finra charges discounter to pro athletes with fraudulent sales
The 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
Officers at Big Three private placement shop indicted
Four top officials of DBSI — one of the big-three private placement firms — have been charged with fraud. Bruce Kelly supplies the details.
Can regulators stave off 'massive increase in senior misery?'
Elderly seen as easy target for unscrupulous advisers, fraudsters; Finra zeroing in on complex products
Judge denies Wells Fargo bid as MedCap suit rolls on
A 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.
Fiduciary champion gets his day in court
Renowned 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
SEC charges Belesis, hedge fund manager with fraud
Troubles mount for beleagured B-D owner as Commission files charges; Finra in the wings
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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Mary Beth Franklin, InvestmentNews