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April 29, 2014
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Blog, Securities Fraud
According to reports, a former Merrill Lynch broker was arrested at a financial planning seminar for allegedly stealing more than $300,000 from elderly clients. Los Angeles County Sheriff’s Department Fraud and Cyber Crimes Bureau arrested 45 year-old Jose Carbajal for Financial Abuse of the Elderly on April 19,
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April 25, 2014
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Blog, Securities Fraud
Former CCF Investments broker, Max Virgil Mawhirter, entered into a Letter of Acceptance, Waiver, and Consent that resulted in a six month suspension. According to the AWC, Mawhirter allegedly borrowed $7,500 from the personal savings account of a client in violation of the firms policy. The loan was purportedly
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April 22, 2014
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Blog, Securities Fraud
According to a recent report in Crain’s, the US Attorney for the Northern District of Illinois recently created a new section to prosecute securities and commodities fraud. The new fraud section was formed as part of the criminal division and consists of 12 prosecutors, many of which were former attorneys for
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April 22, 2014
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Blog, Securities Fraud
According to FA-mag.com a former New Jersey borker, Randy Schneider recently plead quilty to theft by unlawful taking. Schneider allegedly stole nearly one million dollars from two elderly clients. According to the report, Schneider worked for Oppenheimer & Co from January 2003 through October 2011, until he was
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April 19, 2014
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Publications
Financial Professionals are like any profession – there are good ones and there are bad ones. As long as financial advisors are compensated by commissions, some of the unscrupulous ones will continue to attempt to enrich themselves by excessively trading accounts...
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April 17, 2014
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Blog, Securities Fraud
According to reports, CEO and president of DBSI, Douglas L. Swenson, was convicted of thirty-four counts of wire fraud and forty-four counts of securities fraud. Three other top DBSI executives were also convicted on multiple fraud charges. The jury convicted Ellison, 65, of Boise, David Swenson, 36, of Boise, and
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April 17, 2014
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Current Investigations
Concerned about investment losses in Icon Leasing Fund 12? Have you suffered losses investing in Icon Leasing Fund 12? If so, the attorneys at The White Law Group may be able to help you recover your losses through FINRA arbitration. According to a letter to shareholders, Icon Leasing Fund Twelve announced that the
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April 15, 2014
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Blog, Securities Fraud
PNC Investments LLC (CRD# 129052, Pittsburgh, Pennsylvania) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $90,000. The firm has paid restitution to all affected customers. Without admitting or denying the findings, the firm consented to the described sanctions
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April 15, 2014
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Blog, Securities Fraud
Merriman Capital, Inc. (CRD #18296, San Francisco, California) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $120,000 and required to retain an independent consultant to conduct a comprehensive review of the adequacy of the firm’s WSPs. The firm shall adopt and
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April 15, 2014
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Blog, Securities Fraud
Chase Investment Services Corp. (CRD #25574, Chicago, Illinois) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $825,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to
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