Ponzi Schemes And Movie Deals: Tales Of Advisors Behaving Badly
December 24, 2016 by Cyril Tuohy
From Ponzi schemes to wacky real estate deals and movie ventures to managerial inertia, 2016 was another year filled with rogue advisors and brokers, at least in the eyes of the Securities and Exchange Commission.
In a review of financial advisors behaving badly, we highlight brokers and advisors who preferred — either by design or by oversight — helping themselves before helping others. In nearly every instance, their actions ended up costing them a pretty penny.
The entries were collected from press releases issued by the SEC over the past 12 months. They don’t make up an exhaustive list of past misdeeds, but they are a reminder of what brokers and advisors might want to avoid in the future.
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