A former broker for J.P. Morgan Advisors has been suspended in a case involving unreported loans, according to a report by AdvisorHub. The Financial Industry Regulatory Authority announced the four-month suspension along with a $20,000 fine against Theodore M. Serure,...
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Financial Advisor Misconduct
Former NY Life financial advisor convicted of scheme involving false Medicare claims
A federal jury has convicted a former New York Life financial advisor of taking part in a scheme to defraud Medicare by submitting thousands of false claims, Financial Advisor reports. 52-year-old Furman Alexander Ford, who was based in Raleigh, North Carolina, was...
Investment advisor barred, fined by SEC for deceiving clients
A California-based investment advisor and his company have been charged with engaging in practices that deceived and defrauded hundreds of their clients, the Securities and Exchange Commission announced. The SEC obtained a final judgment against Keith Springer and...
Massachusetts advisor pleads guilty to defrauding clients out of $3.5 million
A Massachusetts financial advisor has pleaded guilty to misappropriating millions of dollars of his clients’ funds for his own use, according to InsuranceNewsNet. 55-year-old Steven Xigoros of Lowell was arrested and indicted on the charges by a federal grand jury in...
Former Illinois financial advisor ordered to pay over $815K for defrauding clients
The Securities and Exchange Commission obtained a final judgment against a former Illinois financial advisor who was charged with defrauding his clients, Financial Advisor reports. Under the judgment entered in federal court, 61-year-old Ronald Molo of Shorewood,...