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A federal grand jury has indicted Richard Shusterman, age 50, of Highland Beach, Florida, and Jonathan E. Rosenberg, age 44, of West Orange, New Jersey, on charges of conspiracy and wire fraud, in connection with a scheme to defraud equity investors and asset-based lenders in medical accounts receivable of more than $275 million. The indictment […]
The Department of Labor timeline for releasing the proposal for an expanded fiduciary duty for advisors who work with retirement plans has been delayed. Speaking at the Financial Services Institute’s Financial Advisor Summit, Phyllis Borzi, the Labor Department’s assistant secretary for the Employee Benefit Security Administration, said that her agency is continuing to revise its proposal, and that […]
According to a a Reuters news report: Bambi Holzer, a Beverly Hills, California-based broker known both for her frequent television appearances and the dozens of complaints against her by one-time clients, was informed on July 18 about the investigation, according to FINRA’s website. FINRA, the industry body that regulates brokers, initiated the investigation, according to […]
The Securities and Exchange Commission today announced that New York-based hedge fund adviser Philip A. Falcone and his advisory firm Harbinger Capital Partners have agreed to a settlement in which they must pay more than $18 million and admit wrongdoing. Falcone also agreed to be barred from the securities industry for at least five years. […]
A former partner at the giant accounting firm KPMG LLC pleaded guilty Monday to a securities fraud charge that authorities said involved providing insider information to a friend who plied him with cash, a Rolex watch and other luxury items. Scott London entered the plea in U.S. District Court in Los Angeles to the felony […]