May 2016

Mass. Advisor Gets 3 Years For Taking Retirement Money
Gregg D. Caplitz also was ordered to pay restitution of nearly $1.9 million for stealing retirement funds.

Finra Fines Raymond James $17M for Violating Money Laundering Rules
The company's processes to prevent money laundering did not match its business growth from 2006 to 2014, the agency said.

Father, Son Charged In Multimillion-Dollar Bond Fraud Of Sioux Tribe
The two men are accused of stealing millions from a Native American tribal entity in an elaborate bond sale scheme.

Adviser stole from athletes to make films, SEC says
One of Louis Martin Blazer III's professional athlete clients turned him down when Blazer asked him to invest in two movies, one about the mafia and the other titled "Sibling." That didn't stop Blazer, who went ahead and took $550,000 out of that client's account for the projects anyways, according to the SEC.

MetLife Securities to Pay $25M to FINRA Over ‘Negligent’ VA Replacements
Misstatements led customers to replace their annuities with products that were pricier or had fewer features, FINRA says

Cash In A Gym Bag Results In Insider Trading Charges
The SEC has charged a New York investment bank director and a plumber with insider trading.

Former Pro Athletes To Receive Restitution For Bad Advice
Morgan Stanley has been ordered to pay $819,300 to two former pro athletes.