by Mike | Oct 29, 2014 | Securities Fraud
Dennis Wright, a former broker at Axa Advisors in Lewistown, Pa, has been charged by the Securities and Exchange Commission (SEC) with running a Ponzi scheme that bilked customers of $1.5 million. In the 14-year-old scheme, which ran between 1998 and 2012, Wright...
by Mike | Oct 21, 2014 | Securities Fraud
In 2013, brokers charged with investment fraud were sentenced to a 33 percent longer jail sentence than in the previous year, according to the North American Securities Administrators Association (NASAA). William Beatty, NASAA president and director of the Washington...
by Mike | Oct 20, 2014 | Securities Fraud
Kevin James, a former Indianapolis financial adviser, was sentenced by a federal judge to 10 years in prison and ordered to pay more than $1.3 million in restitution, after James pleaded guilty to stealing $1.4 million from 30 investors. In April, James was charged...
by Mike | Oct 14, 2014 | Securities Fraud
The Securities and Exchange Commission (SEC) recently imposed a $15 million fine on Barclays Capital Inc. to settle charges that it failed to ensure proper compliance with its own rules and securities laws following Barclays’ acquisition of Lehman Brothers’...
by Mike | Sep 10, 2014 | Securities Fraud
The Financial Industry Regulatory Authority (FINRA) fined Morgan Stanley & Co. $4.5 million in an arbitration dispute involving Morgan Stanley and Banco Nacional de Mexico SA, the Mexican bank known as Banamex, a subsidiary of Citigroup. The $4.5 million award...
by Mike | Sep 5, 2014 | Securities Fraud
Christ Church Cathedral in Indianapolis recently filed a lawsuit against JPMorgan Chase & Co., alleging that the bank caused the church’s trusts to lose about $13 million in value because of JPMorgan’s decision to purchase 177 investment products....
