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FINRA Sanctions Advisor for Accepting $1 Million Inheritance from Client Without Firm Approval

June 27th, 2025 at 12:18 PM
FINRA has fined and suspended veteran advisor Kenneth J. Malm for accepting a $1 million inheritance from a client without receiving the necessary firm approval.
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SEC Charges Marine Veteran in $2.5 Million Ponzi Scheme

June 26th, 2025 at 12:11 PM
The Securities and Exchange Commission (“SEC”) has charged Marine Corps veteran Christopher Aubin with fraud, accusing him of running a $2.5 million Ponzi scheme that defrauded dozens of investors, including several of his former military colleagues.
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FINRA Fines and Suspends Advisor for Selling Away and Receiving Client Loans

June 25th, 2025 at 11:26 AM
The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Jose Antonio “Tony” Navarro for selling unapproved investments and borrowing funds from clients.
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Dr. Cash Sentenced for Defrauding Retirees

June 24th, 2025 at 10:05 AM
Terrence Chalk, an unregistered investment advisor who operated under the alias “Dr. Cash,” has been sentenced to three years in prison for orchestrating a fraudulent investment scheme that defrauded millions from unsuspecting victims.
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FINRA Fines AAG Capital for RILA Exchange Violations

June 23rd, 2025 at 1:47 PM
The Financial Industry Regulatory Authority (“FINRA”) has fined AAG Capital $100,000 and ordered the firm to pay nearly $39,000 in restitution after finding it violated Regulation Best Interest (“Reg BI”) by recommending costly registered index-linked annuities (“RILAs") to retail clients in unsuitable product exchanges.
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SEC Charges Former Real Estate CEO in $46 Million Investment Fraud Scheme

June 19th, 2025 at 11:21 AM
The Securities and Exchange Commission (“SEC”) has charged Kenneth Mattson, former CEO of LeFever Mattson, with orchestrating a $46 million investment fraud scheme that targeted approximately 200 investors, many of them retired senior citizensfrom his church community in California.
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Audit Firms Agree to $46 Million Settlement in GPB Capital Fraud Case

June 18th, 2025 at 2:09 PM
In a significant development in the GPB Capital fraud litigation, several audit firms have agreed to pay a combined $46 million to settle claims tied to their alleged involvement in the $1.8 billion scheme that impacted roughly 15,000 investors, as reported by DI Wire.
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FINRA Sanctions Former Advisor for Unsuitable Variable Annuity Exchanges

June 17th, 2025 at 11:40 AM
The Financial Industry Regulatory Authority (FINRA) has fined and suspended former broker Thomas Vigil for making unsuitable variable annuity recommendations that resulted in customers paying higher fees.
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GPB Capital Executives Sentenced for Fraud in Private Placement Scheme

June 16th, 2025 at 1:54 PM
Two former top executives at GPB Capital Holdings received prison sentences for their roles in a years-long investment fraud scheme.
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New York Tax Preparer Charged in $50 Million Ponzi Scheme

June 13th, 2025 at 11:52 AM
New York’s Attorney General announced the arrest of Miles Burton Marshall, an upstate New York tax preparer and insurance agent accused of orchestrating a decades-long Ponzi scheme that defrauded nearly 1,000 investors out of more than $50 million.
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