WEALAW
On March 31, 2015 in Gilbert v. Noble and Stifel Nicolaus, FINRA Case Number 12-02897, the Panel found Respondents jointly and severally liable for compensatory damages in the amount of $1,292,342.00 and attorneys’ fees in the amount of $250,000.00. The claims related to the use of margin as well as purchases of variable annuities issued…
Read MoreOld aphorisms are often helpful in ferreting out fraudulent advice. One such aphorism is: “if it sounds too good to be true, it is.” One unchangeable law of investing is that the higher the rate of return on an investment, the higher the risk of the investment. Anyone who claims that a high rate of return or…
Read MoreFINRA has ordered Oppenheimer & Co (now part of CIBC World Markets) to pay $3.75 million for failing to supervise, Mark Hotton, a broker who defrauded clients and the producers of a Broadway musical. FINRA noted that Oppenheimer failed to investigate Mark Hotton before hiring him, and overlooked “red flags” after they hired him. FINRA also says…
Read MoreGeorge Wayne Hoffman from Parkville, Maryland, a former registered representative with H. Beck, Inc., was barred from association with any FINRA member in any capacity. That sanction was based upon, among other findings, that Hoffman converted $17,000 from an elderly client for his own benefit and improperly accepted a $36,000 dollar personal loan from that…
Read MoreWelcome to the West & West Investment and Stock Market Fraud Law Blog. The securities fraud litigation lawyers at West & West have decades of combined experience representing victims of investment and stock market fraud. One of the main purposes for this blog is to help educate investors so that they never have to become…
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