July 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.