Straight Talk

The purpose of this blog is to provide education and news that will help clients through the litigation process.

|Comments Off on Tom Buck Now Disbarred
Indiana’s top-selling financial advisor from Carmel, Tom Buck, has been barred from working in the securities industry for alleged misconduct that included unauthorized trading for his clients without the clients, or his employer, Merrill Lynch’s, permission. Buck, a former senior vice president of investments at Merrill Lynch, who had been honored numerous times over the [...] Read More
|Comments Off on Do Federal Motor Carrier Safety Regulations Help Build a Case?
The Federal Motor Carrier Safety Regulations (FMCSRs) can help truck accident victims and their attorneys build stronger cases against trucking companies. Beyond the basic rules of the road like obeying speed limits, using proper turn signals and stopping at lights or stops signs, FMCSRs provide guidelines for both inspection and operation of a tractor trailer. FMCSR § 396.13 [...] Read More
|Comments Off on Ponzi Scheme Lands Minnesota Adviser 25 Years in Prison
Former financial adviser, Sean M. Meadows, has been sentenced to 25 years in prison for fraud. A St Paul, Minn., U.S. District Court judge handed down the sentence recently in the case in which Meadows pleaded guilty to diverting $10 million for business and personal expenses, including gambling and adult entertainment. As part of the [...] Read More
|Comments Off on Broker Busted for Trying to Inherit $1.8 Million from Alzheimer’s Client
The Financial Industry Regulatory Authority Inc. (FINRA) filed a complaint against Arizona broker, John Waszolek, for allegedly attempting to inherit $1.8 million from a client with Alzheimer’s disease. Broker Took Unfair Advantage FINRA says that in 2009, John Waszolek, who was at UBS Wealth Management at the time, "took unfair advantage" of an 81-year-old client [...] Read More
|Comments Off on Robert W. Baird & Co. Fined $17.8 Million for Unfair Competition
The asset and wealth management firm Robert W. Baird & Co. along with 20 of its employees have been fined $17.8 million plus interest, with the money awarded to Gleacher & Co., a dissolved investment firm, for alleged unfair competition and solicitation. The order, among other claims related to employees who left Gleacher for Baird, [...] Read More
|Comments Off on Boston Adviser Investigated for Losing $12 Million of Clients’ Money
Hans Peter Black, founder of Boston-based Interinvest Corp., has been charged by the Securities and Exchange Commission (SEC) for defrauding investors and losing up to $12 million of the $17 million of clients’ money invested in Canadian penny stock companies in which he had undisclosed financial stakes. Penny stocks are low-priced, small-cap stocks which usually [...] Read More
|Comments Off on Morgan Stanley and Scottrade, Inc. Fined $950,000 by FINRA
As reported by Law360, Morgan Stanley and Scottrade Inc. must pay $950,000 to the Financial Industry Regulatory Authority for failing to monitor wire transfers of customer funds to third-party accounts. Morgan Stanley was fined $650,000, while Scottrade was fined $300,000. Both firms neither admitted nor denied the charges, but consented to the entry of FINRA’s [...] Read More
|Comments Off on Scott and Shannon Starr to Speak on Securities Fraud at ACFE Chapter Meeting in Fort Wayne on October 30, 2015
Scott and Shannon Starr will give a one hour presentation on securities fraud on October 30, 2015 at the Association of Certified Fraud Examiners (ACFE) Northeast Indiana/Northwest Ohio Chapter Meeting. This course will provide one hour of continuing professional education (CPE) for Certified Fraud Examiners, accountants, auditors, examiners, investigators and anyone interested in learning about [...] Read More
|Comments Off on Adviser Gets 9 Years in Prison for Diverting Investment Funds
Self-styled “Financial Coach” also must pay $3.6 million in restitution for fraud Bryan C. Binkholder, a St. Louis-area financial adviser, was sentenced to nine years in prison and ordered to pay more than $3.6 million in restitution to clients who participated in a real-estate investment program Binkholder used to pay personal expenses and salaries. According [...] Read More
|Comments Off on FINRA Toughens its Sanctions on Suitability Violations
The self-regulator suggests barring offenders, expelling more firms, uping suspensions to two years The Financial Industry Regulatory Authority Inc. is tightening the screws on its disciplinary responses to violations of the suitability standard by brokers. As part of its Sanction Guidelines, which provide suggestions for the National Adjudicatory Council, the committee that oversees disciplinary proceedings, [...] Read More