The Financial Industry Regulatory Authority (FINRA) has barred Jo Ellen Fisher of Gallipolis, Ohio, a former Raymond James Financial Services Inc. financial advisor, for allegedly stealing more than $924,000 in cash and securities from a 95 year-old client's trust account. Allegedly, Fisher transferred the stolen funds into her own daughter's brokerage account. Jo Ellen Fisher […]

The Securities and Exchange Commission (SEC) charged Donna Jessee Tucker, based in Roanoke, Va., with defrauding elderly customers, including some who are legally blind. Tucker allegedly stole $730,289 for her own personal use, including cars, vacations, country club memberships, and falsifying her clients' account statements to cover up her fraud. Tucker also allegedly engaged in […]

Chet Taylor, former general counsel for Feltl & Co., of Minneapolis, has sued Feltl & Co. for damaging his reputation through a public statement last month which Feltl had said without specifically naming Taylor, that its former attorney, had been replaced along with three others because of stock-trading infractions from 2008 to 2012. These infractions […]

On October 1, 2014, the US Attorney's office filed charges against Dennis Wright for securities fraud. Wright is a former agent with AXA Equitable Life Insurance Company ("AXA"), and operated Wright Associates of Lewistown, Pennsylvania. Allegedly, from the early 1990's through June of 2012, Dennis Wright encouraged his clients at AXA to liquidate their securities […]

WFG Investments Inc., of Texas, is facing a $650,000 “global fine” by the Financial Industry Regulatory Authority Inc. (FINRA) Last March WFG agreed to pay $200,000 over an alleged stock-fraud scheme. The reasons for the latest fine has not yet been revealed. "Global fines" are given when regulators are trying to settle long running or […]

Drew Brees, New Orleans Saints quarterback, has settled a lawsuit with his former teammate, Kevin Houser (CRD# 4072700), who is a licensed securities broker. Houser allegedly advised Brees to invest $160,000 in tax credits. According to the court, it allegedly was investment fraud. The lawsuit, filed in federal court in 2013, alleged the former Saints […]

The Securities and Exchange Commission (SEC) announced that the trading of nine penny stocks has been suspended. This is part of an ongoing enforcement to combat microcap fraud. The companies involved in the trading suspension announced on September 25th. were identified during an SEC analysis of heavily promoted microcap issuers. These are the companies suspended […]

A group of investors from Resource Horizons Group, Atlanta, was awarded more than $4 million by the Financial Industry Regulatory Authority, Inc. (FINRA). Allegedly, Resource Horizons Group failed to meet regulatory net capital requirements. Resource Horizons Group has approximately 220 brokers and financial advisors. The FINRA arbitration panel held the firm responsible for $3.5 million […]

With the growing number of our citizens reaching 60 or above, we are also seeing a growing number of victims of investment fraud in this age group. In fact, people over the age of 60 account for over thirty percent of investment fraud victims. Most seniors are living on a fixed income. These investment losses […]