Financial Advisor Fraud Archives – Page 426 Of 449

Patrick Egan, Western International Securities (WIS), Suspended By CFP Board

Patrick Egan, a Western International Securities (WIS) certified financial planner (CFP), has been suspended by The Certified Financial Planner Board of Standards Inc., the professional body for personal financial planners in the U.S. the two key responsibilities of which are administering the CFP certification and setting standards for financial planning. Action against Patric Egan It […]

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Robert Cirillo Pleads Guilty to Investment Fraud Schemes

Robert Louis Cirillo, 61, based in Chino Hills, formerly a stockbroker, has pleaded guilty to the deception of over a hundred victims and running an investment fraud scheme amounting to $3.2 million. This was recently revealed by the U.S. Department of Justice (DOJ) who, in a news release, also mentioned that the money he collected

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Newbridge Securities Corp. Complaints Rise Due to GWG L Bonds

Recently many customers of Newbridge Securities Corp. have filed Financial Industry Regulatory Authority (FINRA) arbitration claims for recovery of investment losses against it and named several of its financial advisors in their claims. In all, over thirty regulatory cases have been filed against the firm. The settlements, fines and arbitration awards put together have already

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Schwab Intelligent Portfolios: Robo-Adviser Subsidiaries Ordered to Pay $187M for Misleading Clients

Three investment advisers, subsidiaries of Charles Schwab, have been hauled up by the Securities Exchange Commission (SEC). The reason provided is that they made “false and misleading statements” regarding the cash component in Schwab Intelligent Portfolios, its robo-adviser service. In addition, they allocated client funds in a manner that was demonstrated to be less profitable

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Centaurus Faces Another GWG L Bond Claim

An investor from Salt Lakes, Arizona, has filed a securities claim under the arbitration process made available by the Financial Industry Regulatory Authority (FINRA) for such disputes. The claim against Centaurus Financial is for losses incurred in investments in GWG L Bonds. The claimant seeks close to $500K in damages. Otto Ramon Bohon, earlier a

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