Rogue advisors on parade

August 20, 2014 by Harry Lew

The Securities and Exchange Commission charged a Virginia broker with defrauding elderly customers, including some who are legally blind, by stealing their funds for her personal use and falsifying their account statements to cover up her fraud.

According to the SEC’s complaint, the broker siphoned $730,289 from elderly customers and used the money to pay for such personal expenses as vacations, vehicles, clothes, and a country club membership.

She ensured that the customers received their monthly account statements electronically, knowing they were unable or unwilling to access their statements in that format. Click here to read…

Originally Posted at LifeHealthPro on August 20, 2014 by Harry Lew.