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...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Financial Advisor Misconduct
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...
Fidelity contends former financial advisor was fired for misconduct, not whistleblowing
Fidelity Investments is asking a federal judge to dismiss a lawsuit filed by one of its former financial advisors who claimed he was fired for whistleblowing, ThinkAdvisor reports. Michael Maeker filed the suit in federal court in May, alleging that Fidelity violated...
Lawsuit accuses 2 former TD Bank advisors of stealing company secrets, clients
Two of TD Bank's former advisors who left for Raymond James have been hit with a lawsuit over allegedly breaking their non-solicitation agreements, Financial Advisor reports. TD Bank and its subsidiary, TD Private Client Wealth, filed the suit in U.S. District Court...
