Financial Advisor Fraud Archives – Page 498 Of 530

FINRA Awards Oppenheimer Customer $1.4M for Horizon Private Equity III Fund Losses

In a recent turn of events, a customer of Oppenheimer & Co. has been awarded $1.4 million in compensatory damages for their losses in the Horizon Private Equity III fund. This development comes after the filing of FINRA arbitration case 22-00866 last year, which involved an investigation into Oppenheimer & Co.’s sale of the Horizon […]

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The Fallout from the Greg Lindberg Scandal: How Can Investors Recover Losses?

Insurance magnate Greg Lindberg has been central to various disputes and legal issues. This article will examine the key incidents plaguing Lindberg and his business ventures, including customer complaints, lawsuits, FINRA fines, barred advisors, financial advisor complaints, SEC actions, and fines. Greg Lindberg, a North Carolina business and insurance tycoon, was convicted and sentenced to

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Financial Advisor Antoine Souma Ordered to Pay Morgan Stanley $6.4 Million in Damages – BARRED

Former broker Antoine Souma has been ordered to pay Morgan Stanley nearly $6.4 million in compensatory damages related to two promissory notes paid to him as recruitment compensation. After a panel of arbitrators concluded that prohibited broker Antoine Nabih Souma (CRD# 4210987) owes his former employer, Morgan Stanley, $6.4 million in compensatory damages, national investment

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FINRA Suspends Broker Derek Rehil for Misrepresenting Client Call Details: What You Need to Know

This week, the Financial Industry Regulatory Authority (FINRA) emphasized the significance of maintaining accurate client records by suspending a broker accused of misrepresenting customer call details. Derek Rehill, a 24-year industry veteran, received a two-month suspension for allegedly breaching FINRA’s Rule 2010, which mandates brokers to adhere to “high standards.” Rehill is accused of recording

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How Raymond James’ Inaccurate Trade Confirmations Cost Investors Millions: A Deep Dive into the Recent Settlement with FINRA

FINRA announced today that Raymond James & Associates Inc. has settled charges of providing inaccurate trade confirmations to customers over eight years, totaling at least 1.85 million confirmations. The broker-dealer from St. Petersburg, Florida, has agreed to a $300,000 fine and a censure without admitting or denying any wrongdoing between January 2014 and May 2022.

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