Legal http://wealthmanagement.com/taxonomy/term/23641/more en Madoff Victims' Payout Nearing $7.2 Billion - Trustee http://wealthmanagement.com/legal/madoff-victims-payout-nearing-72-billion-trustee <div class="field-byline"> Reuters </div> <div class="node-body article-body">Victims of Bernard Madoff's massive Ponzi scheme will get a fresh $322 million payout if a U.S. judge approves the request by the trustee liquidating the convicted fraudster's firm, bringing the recovery total to more than $7 billion.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/madoff-victims-payout-nearing-72-billion-trustee" target="_blank">read more</a></p> http://wealthmanagement.com/legal/madoff-victims-payout-nearing-72-billion-trustee#comments Legal People Mon, 22 Dec 2014 21:43:00 +0000 737391 at http://wealthmanagement.com <p>The fifth interim distribution of payments to victims of Bernie Madoff&#39;s Ponzi scheme would average $299,900 and range from just under $400 to more than $60 million.</p> Copyright Mario Tama, Getty Images F-Squared Settles with SEC over False Performance Claims http://wealthmanagement.com/legal/f-squared-settles-sec-over-false-performance-claims <div class="field-byline"> Reuters </div> <div class="node-body article-body">Money manager F-Squared Investments Inc has agreed to pay $35 million to resolve U.S. regulatory charges that it defrauded investors with false performance claims about its flagship product.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/f-squared-settles-sec-over-false-performance-claims" target="_blank">read more</a></p> http://wealthmanagement.com/legal/f-squared-settles-sec-over-false-performance-claims#comments Legal Mon, 22 Dec 2014 16:37:00 +0000 736941 at http://wealthmanagement.com Copyright Chip Somodevilla, Getty Images FINRA Bars Ex-Wells Fargo Broker for Life for Theft from Client http://wealthmanagement.com/legal/finra-bars-ex-wells-fargo-broker-life-theft-client <div class="field-byline"> Reuters </div> <div class="node-body article-body">A former Wells Fargo Advisors broker in Chico, Calif., has been permanently barred from the industry for stealing almost $89,000 from an elderly customer, the U.S. securities industry's principal regulator of brokers said on Monday.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/finra-bars-ex-wells-fargo-broker-life-theft-client" target="_blank">read more</a></p> http://wealthmanagement.com/legal/finra-bars-ex-wells-fargo-broker-life-theft-client#comments Legal Regulation & Compliance Wirehouse Mon, 22 Dec 2014 15:41:00 +0000 736801 at http://wealthmanagement.com SEC Accuses Unregistered Broker/Dealer Of Defrauding Seniors http://wealthmanagement.com/legal/sec-accuses-unregistered-brokerdealer-defrauding-seniors <div class="node-body article-body">A firm in Staten Island, N.Y. allegedly defrauded 300 senior citizen investors of more than $9 million. </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/sec-accuses-unregistered-brokerdealer-defrauding-seniors" target="_blank">read more</a></p> http://wealthmanagement.com/legal/sec-accuses-unregistered-brokerdealer-defrauding-seniors#comments Legal Fri, 19 Dec 2014 16:35:00 +0000 735211 at http://wealthmanagement.com The Daily Brief: Lawsuit: Schorsch Accused of Cooking ARCP's Books http://wealthmanagement.com/blog/daily-brief-lawsuit-schorsch-accused-cooking-arcps-books <div class="node-body blog-body">Lisa McAlister, ARCP's former chief accounting officer, has filed a $50 million lawsuit in New York State accusing former ACRP Chairman Nicholas Schorsch of ordering her to manipulate quarterly financial results.</div> <div class="og_rss_groups"><ul class="links"><li class="og_links first last"><a href="/blog/daily-brief">The Daily Brief</a></li> </ul></div><p><a href="http://wealthmanagement.com/blog/daily-brief-lawsuit-schorsch-accused-cooking-arcps-books" target="_blank">read more</a></p> http://wealthmanagement.com/blog/daily-brief-lawsuit-schorsch-accused-cooking-arcps-books#comments Legal People Blogs Wirehouse The Daily Brief Fri, 19 Dec 2014 10:00:00 +0000 735181 at http://wealthmanagement.com Two Wells Fargo Units to Pay $1.5 Million for Anti-Money Laundering Lapses - FINRA http://wealthmanagement.com/legal/two-wells-fargo-units-pay-15-million-anti-money-laundering-lapses-finra <div class="field-byline"> Reuters </div> <div class="node-body article-body">Two brokerage units of Wells Fargo &amp; Co must pay a joint $1.5 million fine for failing to comply with anti-money laundering regulations by not verifying 220,000 new accounts during a nine-year period, the Financial Industry Regulatory Authority (FINRA) said on Thursday.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/two-wells-fargo-units-pay-15-million-anti-money-laundering-lapses-finra" target="_blank">read more</a></p> http://wealthmanagement.com/legal/two-wells-fargo-units-pay-15-million-anti-money-laundering-lapses-finra#comments Legal Wirehouse Thu, 18 Dec 2014 15:09:00 +0000 734911 at http://wealthmanagement.com Busted: Alts Manager Taken Away in Handcuffs http://wealthmanagement.com/blog/busted-alts-manager-taken-away-handcuffs <div class="node-body blog-body">Daniel Thibeault, a Harvard Business School graduate and president and chief investment officer of GL Capital Partners, was arrested last week and charged with securities fraud.</div> <div class="og_rss_groups"><ul class="links"><li class="og_links first last"><a href="/blog/rulebook">Rulebook</a></li> </ul></div><p><a href="http://wealthmanagement.com/blog/busted-alts-manager-taken-away-handcuffs" target="_blank">read more</a></p> http://wealthmanagement.com/blog/busted-alts-manager-taken-away-handcuffs#comments Legal Blogs Rulebook Tue, 16 Dec 2014 19:29:00 +0000 732971 at http://wealthmanagement.com FINRA Fines Merrill for Unfair Pricing of Distressed Securities http://wealthmanagement.com/wirehouse/finra-fines-merrill-unfair-pricing-distressed-securities <div class="field-byline"> Reuters </div> <div class="node-body article-body">FINRA fined Bank of America Corp's Merrill Lynch unit $1.9 million for unfair pricing related to the purchase of distressed securities over two years.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/wirehouse/finra-fines-merrill-unfair-pricing-distressed-securities" target="_blank">read more</a></p> http://wealthmanagement.com/wirehouse/finra-fines-merrill-unfair-pricing-distressed-securities#comments Legal Regulation & Compliance Wirehouse Tue, 16 Dec 2014 16:08:00 +0000 732801 at http://wealthmanagement.com Mario Tama/Getty Images New York Lawyer Charged in $5 Million Fraud Outlined in Suicide Note http://wealthmanagement.com/legal/new-york-lawyer-charged-5-million-fraud-outlined-suicide-note <div class="field-byline"> Reuters </div> <div class="node-body article-body">A New York lawyer left a suicide note admitting that he had run a $5 million Ponzi scheme and called the investments "all an illusion," prosecutors said on Friday.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/new-york-lawyer-charged-5-million-fraud-outlined-suicide-note" target="_blank">read more</a></p> http://wealthmanagement.com/legal/new-york-lawyer-charged-5-million-fraud-outlined-suicide-note#comments Legal Mon, 15 Dec 2014 14:58:00 +0000 730541 at http://wealthmanagement.com <p>Charles Bennett claimed that former New York Gov. Eliot Spitzer and his then-wife Silda, were investors in what turned out to be a $5 million Ponzi scheme.</p> Copyright Mario Tama, Getty Images Wall Street Scores a Win in Washington, Eyes More Victories http://wealthmanagement.com/industry/wall-street-scores-win-washington-eyes-more-victories <div class="field-byline"> Reuters </div> <div class="node-body article-body">Five years after President Barack Obama slammed Wall Street "fat cat" bankers, some of the nation's biggest banks this week successfully lobbied Congress to roll back a hotly debated provision in the 2010 Dodd-Frank financial reform law.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/wall-street-scores-win-washington-eyes-more-victories" target="_blank">read more</a></p> http://wealthmanagement.com/industry/wall-street-scores-win-washington-eyes-more-victories#comments Industry Legal Mon, 15 Dec 2014 14:39:00 +0000 730521 at http://wealthmanagement.com Copyright Andrew Burton, Getty Images