Three AIG affiliates settled with the SEC after allegedly overcharging mutual fund investors $2 million.
SEC Fines 3 AIG Advisor Group BDs $9.5M on Excess Fund Fees
SagePoint, Royal Alliance and FSC Securities steered mutual fund clients into more expensive share classes and collected $2 million in fees, the SEC says.
Ex-Raymond James Broker Indicted for Fraud
A former Raymond James broker in South Carolina has been indicted for federal wire fraud involving a $2.8 million Ponzi scheme, Greenville Online reports.
Finra Bars Broker Over Debenture Sales to Seniors
Advisor allegedly sold the risky debt instrument in retirement accounts.
Conflict of Interest Concerns Emerge over Morgan Stanley Pilot
Advisors were encouraged to cross-sell risky loans to big clients.
Florida Fund Manager Faked 5-Star Rating, Hid Criminal Background
Florida advisor also took $1 million from funds he managed, SEC says.
Former Advisor To Alabama Football Star Pleads Guilty To Fraud
Ex-NFL player Kenneth Darby sued Keith Michael Rogers for taking his money.
Ex-JPMorgan Broker Gets 5 Years In Prison, Embezzled $20M For Gambling
Michael Oppenheim duped his clients into withdrawing millions for bogus municipal bond investments.
Wells Fargo Sued By SEC Over Pitcher Curt Schilling's Bond Issue
The bank allegedly misled investors about how much money a company, led by Curt Schilling, needed to develop a video game.