Blue Water Capital Management
Blue Water Capital Management

  (919) 589-2528

Specializing in retirement planning and personalized investment management.

Lawyers, Guns & Money

Lawyers, Guns, Money

Why is it important to work with a fiduciary?


This section of our site is dedicated to all the low-down, no-good, thieving rascals of the industry. It’s a shame that people were hurt by their actions, but at least we can smile (and maybe even laugh) knowing that they are getting what they deserve.


Each month brings new headlines.  If you are interested in reading more about a particular story, just highlight the headline and right click on "search Google" (or the search engine of your choice).

August 2016

31-Aug-2016

Morgan Stanley, Board, Accused Of Mismanaging 401(k) Plan
The lawsuit charges the firm with picking inappropriate and costly investments.

Penny Stock 'Kingpin' Gets 6 1/2 Years For Boiler Room Plot
Sandy Winick was accused of masterminding two schemes that fleeced investors of $140 million.

JPMorgan Broker Barred After Stealing $20M For Gambling, Options
The SEC has barred Michael Oppenheim after he embezzled more than $20 million for gambling and options trading.

Goldman Sachs Trader Misled Customers, SEC Says
Edwin Chin settled charges related to residential mortgage-backed securities and agreed to pay $400K.

Former NFL Player Cheats Coaches, Elderly, SEC says
A former Philadelphia Eagles player defrauded his former coaches and alumni out of millions, the SEC charges. 

SEC Fines 13 Firms For Circulating Misleading F-Squared Ads
Thirteen advisory firms settled charges they disseminated inaccurate marketing materials to clients from a fund provider.

Apollo To Pay $53 Million Over Claims It Misled Investors
Wall Street’s top cop has made policing private equity fees a priority.

Wells Fargo To Pay $4.1M For Illegal Student Loan Practices
A Wells Fargo & Co. unit is settling charges that it engaged in illegal private student loan servicing practices.

Radio Host Lucia Loses Challenge To SEC Judge On Lifetime Ban
An appeals court ruled that the SEC administrative hearing system operated within the bounds of the U.S. constitution.

Pa. Broker-Dealers Allegedly Charged $13M In Excess Commissions
The SEC is accusing three men and two broker-dealers of charging clients $13 million in excess commissions.

Deutsche Bank Fined $12.5 Million For 'Squawk Box' Failures
Confidential information was broadcast through an internal speaker system without proper supervision, Finra says.

Investors’ Money Used In Ponzi Scheme To Buy Waterfront Mansion
A Rhode Island fund manager pled guilty to operating a $21 million Ponzi scheme.

Securities America To Pay $1.5 Million For Fund Overcharges
Finra has ordered Securities America to pay $1.5 million to settle charges that it overcharged mutual fund investors.

Goldman Sachs Fined $36.3 Million By Fed Over Leaked Documents
The enforcement action targets the bank and a former employee.

FINRA Charges Broker With Cheating Blind Widow
Hank Werner is charged with excessive trading to build up his commissions.

July 2016

26-Jul-2016

Patriarch In Pump-And-Dump Scheme Pleads Guilty—Again
His scheme was "just the latest chapter in a lifetime of fraud," prosecutors said.

Prudential Fined For Authorizing Fraudulent Annuity Withdrawals
Finra says the company allowed nearly $1.3 million to be fraudulently taken from an elderly annuity holder's account.

Father And Son Charged In $10 Million Hedge Fund Fraud
The SEC says Thomas D. Conrad defrauded investors and that his son helped.

Richmond, Va., Firm Fined For Not Disclosing Wrap Fees
Investors were misled about the overall cost to manage their portfolios in a wrap program, an SEC official says.

SEC Bars Bennett From Industry, Orders $4M Payment
The SEC has barred Dawn Bennett, who unsuccessfully challenged the agency's administrative hearing process.

Finra Bars Broker For Variable Annuity Deception
Former Prudential broker Winston Wade Turner has been barred for deceiving clients around the sale of variable annuities.

Former Advisor Defrauded Elderly, U.S. Attorney Says
A Florida advisor took money from elderly and spent it on himself, according to the federal indictment.

Morgan Stanley Agrees To Pay $6 Million To Settle Pay Case
Morgan Stanley has agreed to settle a group of long-contested wage-and-hour cases for $6 million.

Raymond James Pays $5.95 Million For Part In Alleged Ski Resort Fraud
Vermont regulators have reached a settlement with the firm to compensate investors in the Jay Peak project.

Still want more scams? Check out www.ponzitracker.com and www.sec.gov/litigation/litreleases.shtml