by Brian Mahany Walter Schlaepper (a/k/a Phil Scott) has been a broker with Merrill Lynch since he received his general securities license back in 1984. Apparently he has built quite a book of business. Along the way, however, he picked up some complaints. One of those complaints was from former Boston Red Sox world series […]
What Does It Take To Become A Stockbroker? Apparently Nothing!
by Brian Mahany Most of our stockbroker fraud stories involve investment advisers failing to perform due diligence, stockbrokers making unsuitable recommendations, churning of accounts or failures to disclose conflicts of interest. Not this story. This week the SEC says Anthony Fields, along with his two “companies” Anthony Fields & Associates and Platinum Securities Brokers, simply […]
Why Sue Stockbrokers if the Court Already Appointed a Receiver?
Frequently Ponzi scheme victims ask us, “Why should we sue our broker?” Often in a Ponzi scheme the court or a regulatory agency like the SEC will try to collect assets on behalf of victims who lost their money. Many clients believe that it is easier to wait for a court appointed receiver to collect […]