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Former UBS Stockbrokers Nabbed for Unscrupulous Options Trading
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March 27, 2012 @ 1:21 pm |
Two former stockbrokers for UBS Financial Services Inc. have been charged with making unsuitable recommendations and negligent misrepresentation regarding options investments per a complaint filed by the Financial Industry Regulatory Authority (FINRA) on Feb. 27.
The complaint says that Charles W. Kern III and Thomas K. Haskins used misinformation to induce seven customers to invest using the S&P Combo Strategy, which was designed to produce monthly income using uncovered calls an...
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Financial Advisor Arrested for Murder a Week After Being Barred by FINRA
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March 22, 2012 @ 10:53 am |
Sometimes the moral decay that leads financial professionals to steal from their clients runs deeper than anyone could expect.
For instance, the news is out that Robert Bales, the U.S. Army staff sergeant accused of massacring 16 Afghan civilians, was a former stockbroker on the losing end of a 2003 arbitration before the Financial Industry Regulatory...
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FINRA Files Complaint against Florida Broker-Dealer for Fraudulent Private Placements
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March 13, 2012 @ 2:36 pm |
Independent/broker-dealer Basis Financial LLC, and its owner and CEO Armen Karapetyan have been charged with defrauding customers of about $1.8 million over a three year span through four private placement offerings involving financially shaky issuers.
According to a complaint filed by the Financial Industry Regulatory Authority's (FINRA's) Department of Enforcement on Feb. 16, the fraudulent conduct included both material misrepresentations and omissions. Gabriel Goldfine, a sto...
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Investment Advisor Nabbed for Misappropriating $3 Million
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March 1, 2012 @ 12:19 pm |
Investment adviser Brenda A. Eschbach has consented to an entry of judgment against her for misappropriating over $3 million in client funds, the Securities and Exchange Commission (SEC) announced on Feb. 15.
According to the complaint filed by the SEC in U.S. District Court for the Central District of California on Feb. 14, Eschbach stole funds clients had given her to make investments. Her fraudulent scheme ran from 20...
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Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports
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Selling America Short: The SEC and Market Contrarians in the Age of Absurdity
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