An Ohio advisor is accused of using discretionary authority over client accounts to fund a weight-loss clinic he allegedly controlled, without disclosing his conflict of interest.
SEC charged Pacific Private Money Group executives with an alleged $80 million Ponzi-like scheme that targeted retirees and senior citizens.
FINRA expelled Reid & Rudiger LLC and barred its cofounders for churning and excessive trading that caused roughly $2.7 million in investor losses.
FINRA censured Centaurus Financial, fined it $475,000, and ordered $634,488.56 in restitution. Patrick Carroll was fined $10,000 and suspended for 12 months over unsuitable variable annuity exchanges.
Inspired Healthcare Capital sold roughly 30 senior-living communities for $717 million, but lenders object over proceeds allocation and the auction process.