The Securities and Exchange Commission charged Larry Dearman Sr, an investment advisor working for Focus Group Advisors, with defrauding dozens of investors between 2008 and 2012. They say that many victims entrusted him with their savings because of his affiliation with a small town Oklahoma church. According to published reports, Dearman at one time served […]
Securities America Fined For Improper Supervision – Stockbroker Fraud Post
Securities America is a large broker dealer headquartered in La Vista Nebraska. Licensed in all 50 states and in business for over 3 decades, the firm is well established in the industry. Lately, however, it has attracted some negative attention for its business practices. Some say the company has allowed or ignored fraud by some […]
Massachusetts Securities Regulators Slam Broker For Elder Fraud
by Brian Mahany Massachusetts state securities regulators took action against a stockbroker for defrauding an 83 year old woman suffering from Alzheimers. According to a complaint filed by the Massachusetts Securities Division, Paul Dumochel is charged with securities fraud. Regulators say that Dumochel learned that an elderly million had $1.5 million in bank accounts and […]
Citicorp Fined $500,000 For Failing To Supervise Stockbroker
by Brian Mahany Citicorp Global Markets was fined $500,000 by the Financial Industry Regulatory Authority (FINRA) for failure to supervise a stockbroker who stole hundreds of thousands of dollars from clients many of whom were elderly or infirm. According to regulators, one of the victims was her own father! Brokerage firms are responsible for supervising […]