A former Massachusetts financial advisor has been sentenced to prison for engaging in a scheme to defraud his clients out of millions of dollars, ThinkAdvisor reports. A federal judge in Boston sentenced 55-year-old Steven Xigoros of Lowell to 109 months behind bars...
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Financial Advisor Misconduct
SEC charges Pa. investment advisor with fraudulent loan scheme
The Securities and Exchange Commission charged a former Pennsylvania investment advisor with orchestrating a fraudulent loan scheme, reports Wealth Management. The allegations were contained in a complaint filed in federal court for the Eastern District of...
SEC charges investment advisor with defrauding clients in cherry-picking scheme
A Nevada-based investment advisor representative and his firm have been charged with defrauding their clients through a cherry-picking scheme, Financial Advisor reports. The Securities and Exchange Commission filed the charges against Steve Susoeff, LLC (dba Meritage...
SEC files charges against 2 NY representatives over unsuitable investments
The Securities and Exchange Commission has charged two registered representatives from New York with making unsuitable investment recommendations for their clients, according to Financial Advisor. The SEC filed a complaint in federal court for the Southern District of...
Wisconsin advisor charged with defrauding clients out of $1.9 million
The Securities and Exchange Commission has charged a Wisconsin-based investment advisor with defrauding at least 13 advisory clients out of about $1.9 million, according to InvestmentNews. The SEC filed a complaint in federal court in the Western District of Wisconsin...