Federal prosecutors have announced fraud charges against a Pennsylvania investment advisor who allegedly stole millions from his clients to use for himself, Financial Advisor reports. Scott Jeffrey Mason, 66, of Gladwyne, Pennsylvania, was charged with wire fraud,...
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Financial Advisor Misconduct
Advisor who allegedly lied to clients about his firing barred by the SEC
A Pennsylvania financial advisor has been barred from the financial industry by the Securities and Exchange Commission following allegations of fraud, according to Financial Advisor. 37-year-old Sean Michael Kane of Philadelphia did not admit or deny the SEC's...
Former Wisconsin financial advisor sentenced to prison for wire fraud and tax evasion
Federal prosecutors announced that a former Wisconsin financial advisor has been sentenced to prison on wire fraud and tax evasion charges, according to Financial Advisor. 63-year-old Thomas Demergian of Madison, who defrauded clients out of $1.8 million over a 23...
Dropbox co-founder files $225 million suit claiming JP Morgan advised improper investments
Dropbox co-founder Arash Ferdowsi filed a lawsuit alleging that an advisor at J.P. Morgan Private Wealth Advisors recommended investments that were improper and unsuitable, AdvisorHub reports. The complaint, filed last week in U.S. District Court for the Northern...
Couple sues Charles Schwab, Hightower over loss of nearly $1 million to alleged fraud
A San Diego couple has filed a lawsuit alleging they are the victims of a fraudulent scheme in which nearly $1 million was stolen from their retirement savings held by Charles Schwab & Co. and Hightower Advisors, ThinkAdvisor reports. Phillip and Pamela Reed filed...
