12 Worst Financial Advisors in America: 2016
April 13, 2017 by Ginger Szala
Oh, the web those scammers weave to get a fast buck. Here are some of the dirtier dozen from 2016.
Oh, the deceitful web scammers weave to make a fast buck. From stealing from the elderly to conning pro athletes, 2016 had its fair share of fraud charges and prison sentences against scammers who acted as investment advisors. And the bar was set low: One fraudster had already been kicked out of the industry and declared bankruptcy, yet still managed to raise funds from gullible investors. Another scammed his mother. As usual, Ponzi schemes were abundant. All have something in common: They all lost their clients a ton on money.
Each year ThinkAdvisor searches through the Securities and Exchange Commission and Financial Industry Regulatory Authority enforcement actions as well as local news outlets to find some of the worst advisors of the year.
Many of these were finally sentenced this year for earlier charges, and others are pending sentencing. There were many fraudsters to choose from, but here are some of the dirtier dozen from 2016:
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