Gary Gross, an Orthodox Jewish broker who allegedly preyed on elderly members of his own Florida congregation, has been charged with fraud by the SEC for, among other things, selling his clients unsuitable investments.
Sallie Krawcheck, CEO of Citi’s global wealth management division, and once considered a potential successor to the CEO role, is leaving the firm. Her departure was announced internally to Citi employees this...
Morgan Stanley, perhaps in an effort to quell investor fears that it was on similarly shaky ground as Lehman Brothers, pre-announced its third-quarter earnings yesterday, surprising analysts with census beating results.
Barclays Capital (BCS), one of Britain's largest banks, is nearing a deal with Lehman Brothers to buy its core broker/dealer business, and is in talks to sell its investment management unit to one or more private...
In the first case of its kind, the SEC announced today that it has charged two individual financial advisors with fraud related to the sale of more than $1 billion in auction-rate securities.
Recycling Scam Perp Busted: Paul Merklingler of Novi, Mich., raked in $7.2 million from five investors between September 2006 and July 2007 with a simple investment opportunity: interest in a tire shredding truck that...
