Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Blog Posts in 2018

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Former Cambridge Investment Research Advisors, Inc. broker Ralph Savoie was barred in 2015 after allegedly defrauding investors in a Ponzi scheme. On March 26, 2018, he pleaded guilty to one count of ... Continue reading "Former Cambridge Broker Ralph Savoie Criminal Charged for Defrauding Investors in Ponzi Scheme" »
Broker-dealers who inflate investment fund performance to retain business and gain new clients deny investors the opportunity to make informed investment decisions. Inflating Fund Performance is ... Continue reading "Defrauding Investors by Inflating Fund Performance" »
Massachusetts securities regulators allege that three hedge funds in Cambridge are operating a Ponzi scheme that has cost investors more than $15 million in losses. Ponzi Scheme Fraud A recent ... Continue reading "Hedge Fund Ponzi Scheme Leads to More than $15 Million in Losses" »
The Securities Exchange Commission (SEC) has proposed a new best interest standard that requires brokers to act in the best interest of their clients, but the rule lacks clarity. What is the Best ... Continue reading "SEC's Best Interest Standard Causing Confusion Over Undefined Rules, Vague Language" »
Former HD Vest broker Donna Barnard is facing multiple complaints involving Woodbridge Investment Funds. Allegations from impacted customers include the misrepresentation of material facts, failure to ... Continue reading "Former HD Vest Broker Donna Barnard Facing Multiple Complaints for Selling Customers Woodbridge Ponzi Scheme" »
Meyer Wilson is investigating allegations that former Morgan Stanley broker Randall Hayes sold customers unsuitable inverse and leveraged ETFs (exchange traded funds). According to allegations made by ... Continue reading "Former Morgan Stanley Broker Randall Hayes Under Investigation for Allegedly Selling Inverse and Leveraged ETFs" »
Former Sigma Financial broker Kevin Looser was recently suspended for allegedly participating in unapproved outside business activities. Looser worked for Sigma Financial, based out of Lakeview, OH ... Continue reading "Former Sigma Financial Broker Kevin Looser Suspended For Participating in Unapproved Sales" »
Former Wells Fargo broker Ramon Herrera was recently suspended after failing to respond to FINRA requests for information during its regulatory investigation. FINRA was investigating allegations that ... Continue reading "Former Wells Fargo Broker Ramon Herrera Under Regulatory Suspension for Misconduct" »
Former Securities America broker Hector May was fired from Securities America shortly after the U.S. Department of Justice launched an official criminal investigation in March 2018. Prior to the ... Continue reading "Securities America Broker Hector May Fired Amidst Allegations He Stole From Clients" »
Although options can add flexibility to a client's portfolio, clients are often enticed into unsuitable options trading with high risks, speculative returns, and big losses. Understanding the ... Continue reading "Did Your Broker Engage in Unsuitable Options Trading on Your Behalf?" »
Two residents of Marion County, Ohio filed a federal class action lawsuit against five brokers and Bank of America for their alleged involvement with running and aiding and abetting a Ponzi scheme. ... Continue reading "Residents of Marion County, Ohio File Class Action Lawsuit Against Five Brokers, Bank of America Over Alleged Ponzi Scheme" »
On April 20, the Financial Industry Regulatory Authority (FINRA) proposed a new rule that expands the liability of churning practices. The new rule states that a broker does not have to be in control ... Continue reading "FINRA Proposing a Wider Net to Capture Churning Brokers" »
The Securities and Exchange Commission (SEC) recently announced that Merrill Lynch has agreed to pay $42 million for misleading its customers and its handling of trading orders. The SEC stated that ... Continue reading "Merrill Lynch, Pierce, Fenner & Smith Inc. Fined $42 Million for Misleading Customers" »
Thomas Edward Brenner, Jr., who at one point worked out of a brokerage firm office in Orrville, Ohio, has been named as a defendant in a federal securities fraud case filed earlier this week by the ... Continue reading "Former Ohio Stockbroker Thomas E. Brenner, Jr., Accused of Participating in Nationwide Ponzi Scheme" »
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" »
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 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 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" »
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" »
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" »
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" »
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" »
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" »
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" »
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" »
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