Meyer Wilson

Investment Fraud Law Blog

Investment Fraud Law Blog

Read the latest news regarding alleged investment fraud and broker misconduct cases nationwide. The securities fraud attorneys at the law firm of Meyer Wilson have been helping investors recover losses since 1999.

An Awful Example of 401k Fraud: Ohio Business Executive Convicted for Embezzlement, Failure to Pay Over Taxes

Posted on Jun 21
C. David Snyder, the former chief executive officer, president, and chairman of Attevo, Inc. was recently convicted on five counts of failure to pay over taxes and one count of embezzling from an ... Continue reading "An Awful Example of 401k Fraud: Ohio Business Executive Convicted for Embezzlement, Failure to Pay Over Taxes" »

Merrill Lynch, Pierce, Fenner & Smith Inc. to Pay $15.7 Million in Penalties and to Clients

Posted on Jun 21
The Securities and Exchange Commission (SEC) recently announced that it ordered Merrill Lynch, Pierce, Fenner & Smith Inc. more than $15 million over charges that its employees mislead customers ... Continue reading "Merrill Lynch, Pierce, Fenner & Smith Inc. to Pay $15.7 Million in Penalties and to Clients" »

Former Merrill Lynch Broker Alexander Souponetsky Serving Regulatory Suspension for Exercising Unauthorized Discretion in Client Accounts

Posted on Jun 20
Former Merrill Lynch broker Alexander Souponetsky has been suspended by FINRA for nine months as a result of him exercising discretion in the accounts of clients without written authorization. ... Continue reading "Former Merrill Lynch Broker Alexander Souponetsky Serving Regulatory Suspension for Exercising Unauthorized Discretion in Client Accounts" »

Selling Investors Woodbridge Mortgage Investment Funds Gets NY Life Securities Broker Joel Flaningan Terminated

Posted on Jun 20
Former NY Life Securities broker Joel Flaningan was recently terminated from his position for allegedly soliciting the firm's clients to invest in Woodbridge Mortgage Investment Funds. The ... Continue reading "Selling Investors Woodbridge Mortgage Investment Funds Gets NY Life Securities Broker Joel Flaningan Terminated" »

Former Northwestern Mutual Investment Services Broker Donnell Noah Bowen Barred After Failing to Cooperate with an Investigation

Posted on Jun 19
Former Northwestern Mutual Investment Services broker Donnell Noah Bowen was recently barred from acting as a broker when he failed to provide FINRA with requested information and documentation ... Continue reading "Former Northwestern Mutual Investment Services Broker Donnell Noah Bowen Barred After Failing to Cooperate with an Investigation" »

Meyer Wilson is Investigating Ameriprise Financial Services Broker James Kujawski for Allegations of Misconduct

Posted on Jun 18
Ameriprise Financial Services broker James Kujawski is under investigation by FINRA for allegations that he participated in private securities transactions and failed to inform a prior employer, UBS ... Continue reading "Meyer Wilson is Investigating Ameriprise Financial Services Broker James Kujawski for Allegations of Misconduct" »

Larry S. Werbel Barred By SEC over Adviser, Securities Fraud

Posted on Jun 18
The Securities and Exchange Commission (SEC) recently barred former New Jersey investment adviser Larry S. Werbel after he pled guilty to one count of investment adviser fraud and one count of ... Continue reading "Larry S. Werbel Barred By SEC over Adviser, Securities Fraud" »

Committee for the Fiduciary Standard Pushes for Financial Advisers to Sign Fiduciary Oath

Posted on Jun 13
The Committee for the Fiduciary Standard is renewing its push for financial advisors to sign its fiduciary oath with the recent pressure from insurance companies that are lobbying to kill the Labor ... Continue reading "Committee for the Fiduciary Standard Pushes for Financial Advisers to Sign Fiduciary Oath" »

FINRA Bars Former U.S. Bancorp Broker John Wade for Converting Client Funds

Posted on Jun 11
Former U.S. Bancorp Investments, Inc. broker John Douglas Wade of Buena Park, California was barred by FINRA, who stated in a Letter of Acceptance, Waiver and Consent that Wade converted over $105,000 ... Continue reading "FINRA Bars Former U.S. Bancorp Broker John Wade for Converting Client Funds" »

Wall Street May Be Chaotic, but That Doesn't Mean Your Investments Should Be Too

Posted on Jun 08
This past year, Wall Street has been more chaotic than it has been in recent memory, which is causing investors to worry about the future of their investments. While you may be concerned about what ... Continue reading "Wall Street May Be Chaotic, but That Doesn't Mean Your Investments Should Be Too" »

Alleged Web of Fraud by Former Financial Advisor Eric Erb Has Cost Investors Millions

Posted on Jun 07
Former financial advisor Eric Erb has been suspended by FINRA for 18 months and fined $20,000. According to the regulator, Erb committed a number of fraudulent acts, including photocopying signature ... Continue reading "Alleged Web of Fraud by Former Financial Advisor Eric Erb Has Cost Investors Millions" »

Financial Advisor Peter Holler Terminated and Suspended for Selling Clients Woodbridge Ponzi Scheme

Posted on Jun 06
Former Securities Service Network broker Peter Holler was recently discharged from the firm for allegedly selling Woodbridge Mortgage Investment Fund to firm customers. FINRA also brought a regulatory ... Continue reading "Financial Advisor Peter Holler Terminated and Suspended for Selling Clients Woodbridge Ponzi Scheme" »

Former Royal Alliance broker Gary Basralian Arrested for Allegedly Stealing More than $2 million from Clients

Posted on Jun 05
Former Royal Alliance Associates investment broker, Gary Basralian, was arrested on May 23, 2018 for allegedly stealing more than $2.1 million from two clients to pay for personal expenses. The ... Continue reading "Former Royal Alliance broker Gary Basralian Arrested for Allegedly Stealing More than $2 million from Clients" »

How Does FINRA Define High-Risk Brokers?

Posted on Jun 04
Mike Rufino, the head of the Financial Industry Regulatory Authority (FINRA) member regulation, recently outlined how the organization defines a high-risk broker during its annual conference in ... Continue reading "How Does FINRA Define High-Risk Brokers?" »

Former Morgan Stanley Broker Cornelius Peterson Barred

Posted on May 30
Former Morgan Stanley broker Cornelius Peterson of Newton Massachusetts was recently barred from acting as a broker after allegedly participating in various fraud schemes that resulted in client ... Continue reading "Former Morgan Stanley Broker Cornelius Peterson Barred" »

Meyer Wilson Investigates Former NYLife Securities LLC Broker Alan New for Selling Clients Woodbridge Mortgage Investment Fund

Posted on May 29
Former NYLife Securities LLC broker Alan New has been the subject of multiple customer complaints relating to the sale of Woodbridge Mortgage Investment Funds. Alan New worked for NYLife Securities ... Continue reading "Meyer Wilson Investigates Former NYLife Securities LLC Broker Alan New for Selling Clients Woodbridge Mortgage Investment Fund" »

Investment Fraud Attorneys at Meyer Wilson Receiving Calls from Victims in Madison Timber Alleged Ponzi Scheme

Posted on May 23
SEC Uncovers $85 Million Ponzi Scheme in Madison Timber Properties Last month, the Securities and Exchange Commission filed a civil lawsuit against Madison Timber Properties LLC, and its owner, ... Continue reading "Investment Fraud Attorneys at Meyer Wilson Receiving Calls from Victims in Madison Timber Alleged Ponzi Scheme" »

Fifth Third Securities Sanctioned by FINRA for Failures Relating to Variable Annuity Exchanges

Posted on May 16
Fifth Third Securities, Inc. was fined by the Financial Industry Regulatory Authority (FINRA) earlier this week for $4 million and was ordered to pay restitution of $2 million after the regulator ... Continue reading "Fifth Third Securities Sanctioned by FINRA for Failures Relating to Variable Annuity Exchanges" »

Former Merrill Lynch Broker Ethan De Naray Fired Amidst Allegations of Unauthorized Trading

Posted on May 14
Ethan De Naray, currently a registered broker with Feltl & Company, was terminated from his position with Merrill Lynch in May of 2017 after allegedly using discretion in non-discretionary ... Continue reading "Former Merrill Lynch Broker Ethan De Naray Fired Amidst Allegations of Unauthorized Trading" »

Proposed Bill Would Make Sure Defrauded Investors Don't Get Stiffed

Posted on May 14
A new bill called the Compensation for Cheated Investors Act would require FINRA to pay investment losses back to investors from a pool of funds. Unpaid arbitration awards would be funded by penalties ... Continue reading "Proposed Bill Would Make Sure Defrauded Investors Don't Get Stiffed" »

Were You Pressured to Invest in Securities You Didn't Understand?

Posted on May 11
Certain stockbrokers use high-pressure sales tactics to get investors to invest in securities that may have significant risks the investors don't understand. Fast-talking brokers and enticing ... Continue reading "Were You Pressured to Invest in Securities You Didn't Understand?" »

SEC Considers Allowing Forced Arbitration to Ban Securities Class Actions

Posted on May 10
The SEC is considering a ban on class-action lawsuits which would prevent investors from seeking financial damages for securities fraud. Under President Trump's agenda, the Securities Exchange ... Continue reading "SEC Considers Allowing Forced Arbitration to Ban Securities Class Actions" »

Borrowing Money from Clients Gets Former Wells Fargo Broker Shane Springman Discharged

Posted on May 09
Former Wells Fargo broker Shane Springman was recently discharged for alleged firm and industry rule violations connected to borrowing money from two separate clients. Springman is not currently ... Continue reading "Borrowing Money from Clients Gets Former Wells Fargo Broker Shane Springman Discharged" »

Allegations of Fraud, Money Laundering Lands Former Ameriprise Advisor Li Lin Hsu Behind Bars

Posted on May 07
Former Ameriprise advisor Li Lin Hsu was recently arrested on charges of wire fraud, money laundering, and obstruction of justice. Hsu allegedly defrauded customers by embezzling money that she had ... Continue reading "Allegations of Fraud, Money Laundering Lands Former Ameriprise Advisor Li Lin Hsu Behind Bars" »

Is Your Broker Lining His Pockets With Your Retirement Money?

Posted on Apr 26
Senior investors lose millions of dollars each year to investment fraud committed by some bad brokers who line their own pockets by bilking people out of their retirement money. With the growing ... Continue reading "Is Your Broker Lining His Pockets With Your Retirement Money?" »

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