A unit of Regions Bank has been fined after investing all of a client’s funds in a hedge fund that channeled money to Bernard L. Madoff Securities, the fund controlled by convicted Ponzi schemer Bernie Madoff. An arbitration panel found that the unit — Morgan Keegan — didn’t perform adequate due diligence on the feeder fund, Greenwich Sentry LP. Now the Financial Industry Regulatory Authority is requring Morgan Keegan to repay the entire $200,000 invested by clients Jeffrey and Marisel Lieberman, plus 6 percent annual interest, as well as $50,000 in punitive damages and $14,000 in expert witness fees.

If you have questions about this award against Morgan Keegan, please feel free to contact The White Law Group at 312-238-9650.

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 Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.

For more information on The White Law Group, visit https://whitesecuritieslaw.com.