Morgan Stanley Shawn Good Financial Advisor BARRED Due To $4.8 Million Ponzi Scheme

As revealed by the Securities and Exchange Commission (SEC), Shawn Good’s strategy involved convincing clients to invest money in what he claimed were low-risk real-estate development investments tax-free government bonds. In true Ponzi fashion, he was paying back older investors from the money generated from the newer ones. A complaint was filed in April this …

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Centaurus, Benchmark and FA Greg Richards Defendants in 7-Figure GWG L Bond Arbitration Claim

A FINRA (Financial Industry Regulatory Authority) claim for arbitration seeking up to $1 million in compensation has been filed by investors. The claim pertains to the losses incurred in the GWG L Bonds. Financial advisor Greg Richards, Benchmark Investments, and Centaurus Financial are the named respondents. GWG Holdings filed for bankruptcy earlier this year and …

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Equitable Financial Agrees to Settle Fraud on Public School Teachers for $50 Million

Equitable Financial Life Insurance Company was charged with fraud by the SEC (Securities and Exchange Commission). This was pursuant to the company’s omissions and misleading statements regarding fees charged to investors that were made on the account statements issued to around 1.4 million variable annuity investors. The impact investors are primarily public school staff members …

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Elderly Client Alleges Fraud By Well Fargo Advisor Robert Kreifels

Wells Fargo Advisors is the subject of an exploitative and fraudulent conduct lawsuit filed by Karen E. Henderson, an elderly female client. The primary reason appears to be that Robert Kreifels, the broker advising her, did not stop her from lending over $337K to his (broker’s) sister and her husband. The complaint was initially filed …

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Investors Awarded $2.5 Million From Lone Star National Bank (LPL)

Two investors were awarded $2.57 million from Lone Star National Bank, an affiliate of LPL Financial. Quite unusually, this is the second time these claimants have been successful in receiving an award for damages against LPL. Lightning never strikes twice. LPL Financial might disagree. Juan Angel Ibarra Rodriguez and Myriam Rodriguez Gonzalez, who sought damages …

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