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Washington Post
Thousands of customers of E-Trade Group were frozen out of the stock market during peak trading hours this morning, when the start-up trading house that rode technology to become a major player in the securities business was frozen by a software glitch. At 10:15 a.m., customers trying to buy and sell stocks online and through […]
Newsday
STRATTON OAKMONT, a large penny stock “boiler room” operation formerly based in Lake Success, left a trail of wreckage behind when regulators closed it for fraud in December, 1996. That wreckage has just begun to surface in court documents and reports as regulators and a bankruptcy trustee work to untangle the mess. Newsday earlier this […]
Naples Daily News
Several days before New York and Florida agents raided his Port Royal mansion and stock brokerage firm in April, Anthony “Tony” Marchiano discovered an undercover agent had infiltrated his Naples office. The new guy, a cold caller, was quietly dismissed. Later, Marchiano’s wife told some of the brokers this: Marchiano carries a small device to […]
Medical Economics
Fast-talking broker swindled one doctor out of almost $185,000. Such scenarios happen a lot more often than you’d think. Clark Gardner was the classic cold-call victim. Although initially skeptical when a broker he didn’t know phoned, the Los Angeles radiologist was won over by the fellow’s persuasiveness. Like many specialists, Gardner had seen his income […]
As seen on CNBC & MSNBC
Aug 14 – The extended bull market and the record trading volume in U.S. stocks has fattened the bottom line for the nation’s securities firms. Before taxes, they earned more than $12 billion last year – a record. But that money has a downside, too. It’s a temptation for an unscrupulous few. ONE CALIFORNIA regulator […]