Law office agrees to pay $65 million in allegations over Ponzi scheme

By | October 31st, 2019|Categories: FINRA, Ponzi|Tags: , , , |

Greenberg Traurig LLP has agreed to pay $65 million to settle accusations of its involvement in a $7 billion Ponzi scheme, according to a report. Law360.com reports Greenberg Traurig is linked to a Ponzi scheme ran by R. Allen Stanford, who was sentenced in June 2012 to 110 years in prison after being convicted of [...]

Brokers accused of taking advantage of elderly client, barred by FINRA

By | October 28th, 2019|Categories: FINRA|Tags: , , , |

Two brokers accused of taking advantage of a 79-year-old client who doctors believe was suffering from Alzheimer’s disease are to be barred from the securities industry by the Financial Industry Regulatory Authority (FINRA). FINRA says Ami Forte and Charles Lawrence exploited their customer by “engaging in quantitatively unsuitable trading” that generated “more than $9 million [...]

FINRA protects investors, brokers in the securities industry – Part 2

By | October 16th, 2019|Categories: Uncategorized|Tags: , , , , |

For investors, brokers and firms who are more flexible and looking for a faster solution, FINRA also provides mediation between two disputing parties. Mediation is an informal process where a “trained, impartial mediator facilities negotiations between disputing parties, helping them find a mutually acceptable solution,” according to FINRA. For a mediation to be successful, both [...]