A registered investment advisory firm and its two executives have been charged with devising a scheme that defrauded their clients out of over $75 million, the Securities and Exchange Commission announced last week. The SEC filed civil charges in a federal court in...
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Month: September 2022
FINRA fines company for charging excessive commissions on stock trades
A Wisconsin company that allegedly overcharged thousands of customers on equity transactions has been penalized by the Financial Industry Regulatory Authority, AdvisorHub reports. Robert W. Baird & Co., based in Milwaukee, was ordered to pay a $150,000 fine along...
Former financial advisor sentenced to 84 months for fraud scheme
A federal judge has sentenced a former Wisconsin advisor who pleaded guilty to a fraud scheme in which he misled his clients, according to a report by WealthManagement. 33-year-old Michael Shillin of Eau Claire, a former broker with Raymond James Financial and...
Man sentenced to 10 years in prison for ticket sales fraud scheme
A Florida man will spend a decade in federal prison for defrauding investors in a scheme involving sales of event tickets, reports InsuranceNewsNet. 53-year-old Thomas Coelho of St. Petersburg was sentenced to 10 years behind bars by U.S. District Judge Thomas P....
Former Merrill Lynch broker fined, suspended by FINRA over unauthorized trades
A former Merrill Lynch broker accused of unauthorized trading in customer accounts has been sanctioned by the Financial Industry Regulatory Authority, according to AdvisorHub. Conrad K. Branson was fined $5,000 and suspended for 45 days over his actions that occurred...