by Justin Knapp | Sep 21, 2009 | Uncategorized
Nursing home resident and 20-year client of John Edward Mullins was swindled out of more than $11,000. The 97-year-old client was admitted to a nursing home in 2006 and soon after, Mr. Mullins began taking advantage of the elderly client’s assets. The former Morgan...
by Justin Knapp | Sep 21, 2009 | Uncategorized
The state of Texas gets a whopping $12.7 million settlement from Merrill Lynch following the state’s investigation of the firm’s questionable marketing of auction rate securities (ARS) as cash-like and easy-to-access. The securities resulted in great failures for...
by Justin Knapp | Sep 21, 2009 | Uncategorized
Former NBA all-star Horace Grant prevailed over Morgan Keegan & Co. during a hearing in LA, awarding the athlete a record $1.45 million in compensatory damages. Mr. Grant’s lawsuit claimed breach of fiduciary duty and fraudulent misrepresentation following a 90%...
by Justin Knapp | Sep 21, 2009 | Uncategorized
Despite his best efforts fabricating voodoo dolls and employing psychics, Barry R. Stokes was unable to ward off incriminating testimony by victims of his financial fraud. The ex-AIG advisor of did however manage to steal $19 million from his clients’ 401(k), health...
by Justin Knapp | Sep 21, 2009 | Uncategorized
New Jersey has a bad reputation for wise guys. Stephen Severio is case in point. He’s a former Merrill Lynch advisor who is accused of bilking clients of $500,000. Read more from Investment News about Mr. Severio’s shady investment strategy....
by Justin Knapp | Sep 21, 2009 | Uncategorized
In the wake of the economic meltdown, Wall Street bankers are pursuing their next great idea, albeit a bit morbid. The concept involves life insurance policies of ill or elderly owners, sold to bankers for a fraction of the policy’s death benefit prior to death....
