Credit Suisse Group AG is going to court to fight a recent arbitration ruling that went in favor of one of its former brokers, reports AdvisorHub. Last month, a panel of Financial Industry Regulatory Authority arbitrators awarded $1.3 million to James D. Garrity, who...
Former official with Philadelphia lending firm pleads guilty to defrauding investors
A former official with a Pennsylvania company has pleaded guilty to what authorities say was a scheme to bilk investors, according to InsuranceNewsNet. 65-year-old Perry Abbonizio of Collegeville appeared in federal court last week to enter the plea to a conspiracy...
Wells Fargo awarded $20.7M in poaching dispute with Raymond James
Wells Fargo Advisors was awarded $20.7 million by arbitrators after accusing Raymond James Financial Services of poaching advisors, reports Financial Advisor. Wells Fargo filed a complaint in August 2020 alleging that Raymond James and advisor Kent Jackson Rhoades...
Credit Suisse ordered to pay former broker $1.3 million in dispute over deferred compensation
Financial Industry Regulatory Authority arbitrators have sided with a former broker for Credit Suisse Securities in a dispute over deferred compensation, according to Investment News. The broker, James D. Garrity, was awarded over $1 million in compensatory damages...
2 men charged with multi-million dollar scheme to trade on stolen information
Federal prosecutors in New York announced that two men have been arrested for allegedly conspiring to carry out an insider trading scheme, according to ThinkAdvisor. 51-year-old Lawrence Billimek, a trader with TIAA unit Nuveen, and 77-year-old Alan Williams, a...
