Articles Posted in Elder Fraud

What the new code of conduct rule entails and how it could affect elderly investors Up until earlier this year, the Department of Labor had a rule in effect for fiduciaries that specified that they couldn’t earn commissions unless the advice they offered was in the best interests of their…

According to some reports, nearly 1/3 of National Securities brokers have had regulatory issues, legal disputes, or personal financial problems that have been disclosed to investors National Securities Corporation is one of the oldest financial firms in the U.S., dating back over 70 years. Its the main office is in…

The elder financial fraud allegations reportedly cost elderly investors over $1M of retirement savings Once a prominent Methodist pastor in Houston, Texas, Kirbyjon Caldwell is now charged by the SEC with numerous counts of money laundering and wire fraud. The charges are directly related to a scheme Caldwell and his…

Anteneh Roberts (CRD #6414549) is a former registered broker and investment advisor whose last known employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691) of Ann Arbor, MI, from 05/15/2015 through 08/10/2017.  His previous employer was PNC Investments (CRD #129052) of Cleveland, OH. He is not currently registered…

Here’s what you need to do now Elder financial fraud continues to be a lucrative scheme in America, which is why seniors and their loved ones always need to keep their guard up. We have previously discussed how to spot fraud and what some financial institutions are doing to prevent…

Former broker and investment advisor Mitchell Toby Yanow (CRD #2148171) was last employed by Stifel, Nicolaus & Company, Incorporated (CRD #793) of Boca Raton, FL. His previous employers include Oppenheimer & Co. Inc. (CRD #249) and Wachovia Securities, LLC (CRD #19616), both of Palm Beach Gardens, FL. No current employment…

Individuals suffering from Alzheimer’s can be prime targets for financial predators Unfortunately, we become more susceptible to financial scams from a wide range of offenders as we age. These include trusted advisors such as lawyers, accountants, and financial managers – as well as healthcare providers, caregivers, and even close family…

He defrauded his clients – including his own in-laws – of more than $5 million Former Chicago investment advisor Daniel Glick will be spending the next 12 years in federal prison. He received this sentence in April after being found guilty of using a Ponzi-like scheme to defraud several of…

Peter Orlando (CRD #1142715) is a former registered broker, last employed with SCF Securities, Inc. (CRD #47275) of Fall River, MA. Previous employers include MetLife Securities (CRD #14251), Morgan Stanley (CRD #149777 and #8209), and Investors Capital Group (CRD #30613) He has been in the industry since 1983. His current…

On the heels of a Ponzi scheme that cheated investors out of $102 million, the SEC has charged a former insurance broker with defrauding inexperienced retail investors. James Hocker, aged 48, of Bellefonte, Pennsylvania has been charged with defrauding 25 investors of $1.27 million for non-existent securities. He operated his…