Jeffrey Howell Barred From Securities Industry
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Sam Wyly Settles Federal Fraud Charges for $198.1M
Sam Wyly, an ex-Texas billionaire who has declared bankruptcy, will pay $198.1 million to settle federal securities regulator claims accusing him of securities fraud to hide trades in companies that were under his control through the use of offshore trusts. A federal bankruptcy judge in Dallas and the SEC commissioners must still approve the settlement. According to […]
SEC Charges Duo For $20M Penny Stock Fraud
The SEC charged an ex-microcap CEO and a boiler room operator with pressuring senior citizens and other investors to purchase penny stocks in a $20 million fraud. Craig V. Sizer is the former CEO of Sanomedics, which supposedly sold non-contact infrared thermometers, and chairman of software applications company Fun Cool Free, according to the SEC. […]
Thomas Conrad Jr. Defrauds Investors 40 Years After Ban
According to the SEC, Thomas Conrad Jr.–an 85 year old man from Alpharetta, Georgia who was barred from the securities industry 45 years ago for fraud–was defrauding investors all over again with the assistance of his 55 year old son, Stuart P. Conrad. The two allegedly defrauded investors in a group of hedge funds they […]
Dez Bryant Sues Former Advisor
NFL star and Dallas Cowboy wide receiver Dez Bryant is suing his former advisor, Royce West. West is currently a Texas state senator. The suit claims that West breached his “professional and fiduciary duty.” [su_spacer size=”10″]West filed suit against Bryant last month, seeking financial compensation for damages Bryant allegedly caused to a house he rented. […]
FINRA Bars Broker Bernard McGee
FINRA barred broker Bernard McGee and ordered him to pay about $250,000 in penalties for fraudulent annuity recommendations he made to an elderly customer. According to FINRA, he surrendered four variable annuity policies owned by the 71 year old customer valued at roughly $500,000 and used the money to purchase a charitable gift annuity from […]
Welliver Pleads Guilty To Securities Fraud
David Blaine Welliver, whose career as a financial advisor began in the early 1990s with a $400 classified ad promoting his one-man office, ended that career by recently pleading guilty to a charge of securities fraud in a St. Paul, Minnesota federal courtroom. He is looking at up to five years in prison. [su_spacer size=”10″]The […]
AL Man Charged With $1.5M Securities Fraud Involving Church
Terry Earl Hester of Pike County, Alabama was charged with violating the Alabama Securities Act after allegedly making false promises to a Tuscaloosa County church involving $1.5 million in funds. [su_spacer size=”10″]Hester turned himself into authorities on June 15. The charges are the result of a six-count indictment by a Tuscaloosa County grand jury, according […]
Andrew Caspersen Pleads Guilty To $40M Fraud
Andrew Caspersen, an ex-Wall Street executive and descendant of a wealthy family, pleaded guilty this week to federal charges that he defrauded friends, family, and a hedge fund billionaire’s foundation out of almost $40 million. He pleaded guilty to one count of securities fraud and one count of wire fraud, each of which carries a […]
Adviser To Plead Guilty To $21M Ponzi Scheme
Patrick E. Churchville, an investment adviser from Rhode Island, is expected to plead guilty to criminal charges for running a $21 million Ponzi scheme, according to a statement made by the U.S. Attorney’s Office. In addition, Churchville used $2.5 million of his clients’ cash to buy a house, and he failed to pay over $820,000 […]