Tagged with "Jim Eccleston"

Minnesota Man Charged With Operating Million Dollar Ponzi Scheme Through Options Trading

Posted on September 15th, 2017 at 9:48 AM
Minnesota Man Charged With Operating Million Dollar Ponzi Scheme Through Options Trading

The United States Attorney’s Office has filed federal criminal charges against Big Island Capital founder, Jeremey Richard Lundin for operating a Ponzi scheme in which he stole more than $1 million from individual investors.

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Allstate Sues Ameriprise for Allegedly Stealing Confidential Information through Recruitment

Posted on September 14th, 2017 at 11:30 AM
Allstate Sues Ameriprise for Allegedly Stealing Confidential Information through Recruitment

Allstate Insurance Co. has filed a lawsuit in the U.S. District Court for the Northern District of Illinois against Ameriprise for violations of the Defend Trade Secrets Act, tortious interference with business relationships and unfair competition.

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CFP Board Imposes Suspension of Texas Adviser Accused of Fraudulently Diverting Client Funds

Posted on September 13th, 2017 at 10:33 AM
CFP Board Imposes Suspension of Texas Adviser Accused of Fraudulently Diverting Client Funds

The CFP Board has suspended Houston, Texas native, Lawrence A. DeShetler after the registered investment adviser failed to respond to a CFP show-cause order.

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Massachusetts Securities Division Investigates Kickback Conflict with Brokerage Firms

Posted on September 8th, 2017 at 4:57 PM
Massachusetts Securities Division Investigates Kickback Conflict with Brokerage Firms

The Massachusetts Securities Division has requested information from seven of the largest brokerage firms in the United State to determine whether broker rebates or kickbacks prevent ordinary investors from getting the best price for their trades.

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Five Cetera Broker-Dealers Reach Settlements with FINRA Totaling $3.3 million for Failure to Supervise

Posted on September 7th, 2017 at 1:15 PM
Five Cetera Broker-Dealers Reach Settlements with FINRA Totaling $3.3 million for Failure to Supervise

Cetera Investment Services, Cetera Financial Specialists, First Allied Brokerage Services, Summit Brokerage Services, and Girard Securities all have reached settlements with FINRA totaling $3.3 million for failing to supervise the application of mutual fund sales charge waivers to eligible clients in retirement plans and at charitable organizations.

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FINRA Fines Broker-Dealer Over its Failure to Supervise Nontraditional ETFs

Posted on August 16th, 2017 at 10:17 AM
 FINRA Fines Broker-Dealer Over its Failure to Supervise Nontraditional ETFs

FINRA has fined Atlanta-based Broker-Dealer, FSC Securities Corporation, $100,000 over allegations that it failed to supervise trades in risky, nontraditional exchange-traded funds (“ETFs”).

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North Dakota Securities Department Reaches Settlement with Ponzi Scheme Operator

Posted on August 10th, 2017 at 9:19 AM

The North Dakota Securities Department has settled an investigation against Minneapolis-based Questar Capital Corporation broker, Kevin Wanner.

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Kestra Financial has Acquired 600 Reps and Advisory Firm

Posted on August 8th, 2017 at 4:29 PM
Kestra Financial has Acquired 600 Reps and Advisory Firm

Independent broker-dealer Kestra Financial, Inc has acquired 600 reps and an advisory firm owned by insurance company H. Beck, Inc.

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Hedge Fund Manager Sentenced for Orchestrating a Ponzi Scheme

Posted on August 7th, 2017 at 9:57 AM
Hedge Fund Manager Sentenced for Orchestrating a Ponzi Scheme

Hedge fund manager, Stephen S. Eubanks was sentenced in federal court to 30 months in prison, three years of supervised release, and ordered to pay $437,609 in restitution to his victims for allegedly defrauding over 20 investors.

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Adviser Likely to Appeal Prison Sentence and 7.5 Million Restitution Payment to NBA Star

Posted on August 4th, 2017 at 9:57 AM
Adviser Likely to Appeal Prison Sentence and 7.5 Million Restitution Payment to NBA Star

In June, a federal judge in the Texas Western District Court in San Antonio, Texas sentenced Charles Augustus Banks IV to 4 years in prison and ordered him to pay $7.5 million in restitution to his former client, former NBA player Tim Duncan.

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