Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Couple Bilked in $29M Ponzi Scheme Sues Advisory Firm
By Jeff BermanThe firm didn't supervise an advisor who paid for planes and mistresses with client money, a lawyer says.
May 18, 2023
Deutsche Bank Agrees to $75M Settlement With Epstein VictimsU.S. District Judge Jed Rakoff had dismissed some claims, but allowed the plaintiffs to move ahead with others.
May 18, 2023
Next Hearing Set for Ex-Broker Charged With Murder of BofA-Merrill ExecA preliminary hearing for Anthony Duwayne Turner, charged with killing Michelle Avan, was postponed until May 29.
May 16, 2023
Ex-Advisor, Minister, Gets 10 Years for Real Estate SchemeThe former CFP was ordered to pay $1.6 million in restitution after allegedly misleading clients on rental property investments.
May 16, 2023
Wells Fargo to Pay $1B in Class-Action LawsuitIt's one of the largest securities class-action settlements of the past decade, according to lawyers for the investors.
May 12, 2023
Fake Billionaire Hedge Fund Manager Ran Ponzi Scam, US SaysThe ex-trader lied about everything from a nonexistent luxury car collection to phony 200% returns, prosecutors say.
May 11, 2023
Life Policy Buyer Sues Over Age ConflictBMI says the insurer had a duty to check and correct the insured's age.
May 03, 2023
$20M Securities Scam Targeted Church Members, DOJ, SEC SayThe scammer invoked his Christian faith and attributed his success to divine intervention, the SEC said.