{"id":11980,"date":"2026-06-29T16:34:57","date_gmt":"2026-06-29T20:34:57","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11980"},"modified":"2026-06-29T16:34:57","modified_gmt":"2026-06-29T20:34:57","slug":"scott-silver-speaks-out-on-axos-clearing-arbitration-award","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/scott-silver-speaks-out-on-axos-clearing-arbitration-award\/","title":{"rendered":"Scott Silver Speaks Out On Axos Clearing Arbitration Award"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-10205 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall.jpg\" alt=\"In a recent article on InvestmentNews, Silver Law Group founding attorney Scott Silver spoke about FINRA's decision to award $49.2 million to 102 investors with accounts with Worden Capital Management, LLC. The investors alleged that their accounts were fraudulently churned and excessively traded for commissions. The company and its founder, Jamie Worden, were found to have used the investor's money as \u201cpersonal slush funds.\u201d\n\n&quot;At the end of the day, Axos served as the clearing firm for a notorious Wall Street boiler room,\u201d Scott said. \u201cAxos had full transparency into Worden\u2019s business.&quot;\u00a0\n\nAs the clearinghouse for all of Worden\u2019s transactions, Axos knew what Worden was doing but did nothing to stop any activity they knew (or should have known) was illegal.\u00a0\n\nFINRA\u2019s award stated that Worden Capital and its brokers were engaged &quot;in egregiously unsuitable and excessive trading and churning, garnering over $16 million in commissions and fees while costing nearly all of [clients] out-of-pocket losses of over $12 million.\u201d\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/10\/FiverrLossesSmall-180x120.jpg 180w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>In a recent article on <a href=\"https:\/\/www.investmentnews.com\/regulation-legal-compliance\/clearing-firm-axos-to-pay-492-million-in-lawsuit-linked-to-failed-broker-dealer\/266952?hsmemberId=44173495&amp;tu=&amp;utm_campaign=&amp;utm_medium=20260610&amp;_hsenc=p2ANqtz-_bsuWoZsanyMAQleqoBE1fAKBGV0LjnwXA7MU8lHX6NcGMXC5NfrqFIV5nJ5lJUQprPtTlkJOM9Am0SnS-L7gbkFYUWA&amp;_hsmi=423143002&amp;utm_content=&amp;utm_source=\" target=\"_blank\">InvestmentNews<\/a>, Silver Law Group founding attorney Scott Silver spoke about FINRA&#8217;s decision to award $49.2 million to 102 investors with accounts with Worden Capital Management, LLC. The investors alleged that their accounts were fraudulently churned and excessively traded for commissions. The company and its founder, Jamie Worden, were found to have used the investor&#8217;s money as <em>\u201cpersonal slush funds.\u201d <\/em> <a href=\"https:\/\/www.silverlaw.com\/blog\/scott-silver-speaks-out-on-axos-clearing-arbitration-award\/#more-11980\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent article on InvestmentNews, Silver Law Group founding attorney Scott Silver spoke about FINRA&#8217;s decision to award $49.2 million to 102 investors with accounts with Worden Capital Management, LLC. The investors alleged that their accounts were fraudulently churned and excessively traded for commissions. The company and its founder, Jamie Worden, were found to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[589,577],"tags":[],"class_list":["post-11980","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-finra-disciplinary-actions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Scott Silver Speaks Out On Axos Clearing Arbitration Award &#8212; Securities Arbitration Lawyers Blog &#8212;<\/title>\n<meta name=\"description\" content=\"Scott Silver spoke about FINRA&#039;s decision to award $49.2 million to 102 investors whose accounts with Worden Capital Management, LL\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/scott-silver-speaks-out-on-axos-clearing-arbitration-award\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Scott Silver Speaks Out On Axos Clearing Arbitration Award &#8212; 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