According to reports, the Securities and Exchange Commission charged a former UBS broker for allegedly defrauding several elderly clients as part of a five-year Ponzi scheme.
The SEC claims Donna Tucker misappropriated more than $730,000 from her clients from January 2008 until April 2013, while she was at UBS. She allegedly used the money to pay for vacations, three cars, clothing and a country club membership, while misleading clients about the status of their funds.
Ms. Tucker resigned from UBS in April 2013 while the firm was investigating customer complaints of misappropriated funds.
According to her FINRA BrokerCheck, FINRA barred Ms. Tucker in September 2013.
The White Law Group is investigating the liability that UBS may have for Ms. Tucker’s actions. Brokerage firms are required to adequately supervise their representatives to ensure that they are complying with securities rules. If a broker-dealer fails to adequately supervise one of its agents, the firm can be held responsible for the resulting losses in a FINRA arbitration claim.
If you suffered losses investing with Donna Tucker and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on the firm, visit https://www.whitesecuritieslaw.com.