Eccleston Law Blog

Dr. Cash Sentenced for Defrauding Retirees

June 24th, 2025 at 10:05 AM
Terrence Chalk, an unregistered investment advisor who operated under the alias “Dr. Cash,” has been sentenced to three years in prison for orchestrating a fraudulent investment scheme that defrauded millions from unsuspecting victims.
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FINRA Fines AAG Capital for RILA Exchange Violations

June 23rd, 2025 at 1:47 PM
The Financial Industry Regulatory Authority (“FINRA”) has fined AAG Capital $100,000 and ordered the firm to pay nearly $39,000 in restitution after finding it violated Regulation Best Interest (“Reg BI”) by recommending costly registered index-linked annuities (“RILAs") to retail clients in unsuitable product exchanges.
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SEC Charges Former Real Estate CEO in $46 Million Investment Fraud Scheme

June 19th, 2025 at 11:21 AM
The Securities and Exchange Commission (“SEC”) has charged Kenneth Mattson, former CEO of LeFever Mattson, with orchestrating a $46 million investment fraud scheme that targeted approximately 200 investors, many of them retired senior citizensfrom his church community in California.
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Audit Firms Agree to $46 Million Settlement in GPB Capital Fraud Case

June 18th, 2025 at 2:09 PM
In a significant development in the GPB Capital fraud litigation, several audit firms have agreed to pay a combined $46 million to settle claims tied to their alleged involvement in the $1.8 billion scheme that impacted roughly 15,000 investors, as reported by DI Wire.
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FINRA Sanctions Former Advisor for Unsuitable Variable Annuity Exchanges

June 17th, 2025 at 11:40 AM
The Financial Industry Regulatory Authority (FINRA) has fined and suspended former broker Thomas Vigil for making unsuitable variable annuity recommendations that resulted in customers paying higher fees.
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GPB Capital Executives Sentenced for Fraud in Private Placement Scheme

June 16th, 2025 at 1:54 PM
Two former top executives at GPB Capital Holdings received prison sentences for their roles in a years-long investment fraud scheme.
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New York Tax Preparer Charged in $50 Million Ponzi Scheme

June 13th, 2025 at 11:52 AM
New York’s Attorney General announced the arrest of Miles Burton Marshall, an upstate New York tax preparer and insurance agent accused of orchestrating a decades-long Ponzi scheme that defrauded nearly 1,000 investors out of more than $50 million.
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Former Morgan Stanley Advisor Banned for Profit-Sharing Scheme and Policy Violations

June 12th, 2025 at 3:41 PM
Joseph A. Eisler has agreed to a permanent ban from the brokerage industry, according to a recent settlement with the Financial Industry Regulatory Authority (“FINRA”).
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CFP Board Announces Certification Fee Increase

June 10th, 2025 at 10:52 AM
The CFP Board of Directors has approved a $120 increase to the annual certification fee for CFP® professionals, raising the total to $575.
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Investor Sues Both Schwab and Hightower Over Pledged Asset Line

June 9th, 2025 at 11:53 AM
A retiree has filed a lawsuit accusing Charles Schwab & Co. and Hightower Advisors of financial elder abuse, fraud, and breach of fiduciary duty.
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LATEST NEWS AND ARTICLES

November 4, 2025
FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.

November 3, 2025
Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme

Former Florida broker Jared Dean Eakes, 34, of Jacksonville, has pleaded guilty to wire and bank fraud in connection with a $2.7 million investment scam and a separate scheme involving over $4.75 million in fraudulent Paycheck Protection Program (PPP) loans, according to U.S. Attorney Gregory W. Kehoe for the Middle District of Florida.

October 31, 2025
Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter

Three former Morgan Stanley advisors filed suit this week against the U.S. Department of Labor (DOL), claiming the agency exceeded its authority and was unduly influenced when it issued an advisory opinion that sought to undermine their deferred compensation claims.