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Sue'em Don't Shoot Em! End the Violence Against Stockbrokers, Now!
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March 12, 2010 @ 6:05 pm |
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On Monday, in North Dallas, Texas, a disgruntled investor paid a visit to his stockbroker and investment advisor’s office, with a 45 caliber weapon, yelling "you lost all my money," and is alleged to have shot his broker and the broker's son, before taking his own life. According to the Fort Worth News, Robert Mustard, Jr., (a disbarred lawyer), is alleged to have shot his stockbrokers Richard Smith, 66, in the leg, and his son, Christopher Smith in the n...
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Investor Claims against Stockbrokers for Fraud Continue to Soar
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January 24, 2010 @ 8:40 am |
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Securities arbitration results from the Financial Industry Regulatory Authority (\"FINRA\") Office of Dispute Resolution reporting the outcomes of customer initiated investment related arbitrations against stockbrokers and investment firms have been released for 2009.
Not surprisingly, the number of FINRA customer initiated arbitration cases filed in 2009 increased 43% from 4,982 cases in 2008 to 7,137 cases in 2009. The number of these cases was initially expected to exceed 10,000 in 2009. Increases in securities prices in the 2009 have probably reduced the number of claims that would...
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Prudential Investment Management Fraud
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January 18, 2010 @ 6:24 pm |
Pruco Securities, LLC (CRD #5685, Newark, New Jersey) and Prudential Investment Management Services LLC (CRD #18353, Newark, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which they were censured, fined $525,000, jointly and severally, and required to conduct an audit and prepare written findings regarding their compliance with NASD
rules relating to the filing, approval and recordkeeping requirements for advertisements and sales literature.
Without admitting or denying the findings, the firms consented to the described sanctions and to the entry of findi...
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Finra bars Ex-Morgan Stanley rep for allegedly bilking 97-year-olds charity
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January 18, 2010 @ 6:14 pm |
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A former Morgan Stanley broker was barred today by the Financial Industry Regulatory Authority Inc. for allegedly misappropriating $11,156.47 from the charitable foundation of a 97-year-old nursing home resident who was his client for more than 20 years.
John Edward Mullins allegedly began to misuse the funds of his client, Esther Weil, after she became ill in April 2006 and needed 24-hour nursing care, Finra said in a statement.
Within three months of her becoming ill, Mr. Mullins misappropriated $4,000 to pay for a vacation at the Four Seasons in London, $5,500 toward his persona...
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Securities Fraud Investigation Against Wall Street Firms
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December 13, 2009 @ 8:22 am |
The Guiliano Law Firm, P.C., a leading securities lawyer firm in Philadelphia, Pennsylvania announced today it is actively investigating and pursuing securities fraud claims against certain securities broker-dealers resulting from the risky or unsuitable recommendation of securities.
Investment trusts, labor unions, pension funds, local municipalities, school boards and charitable foundations, required by law in most states to only invest in prudent, and otherwise conservative fixed income securities and preferred shares, have collectively lost tens of billions in the securities of ...
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