Close

misconduct

Broker Wires $370k from Family Accounts

By Tom Costello of Costello Law Group  As a result of allegedly missing numerous red flags of broker misconduct, FINRA fined Ameriprise $850,000. The fine was imposed as a result of Ameriprise management’s failure to detect nine wire transfers, totaling $370,000, from customer accounts to the personal account of an Ameriprise Financial advisor. […]

Continue Reading

Churning Costs Firm $2 million

By Tom Costello of Costello Law Group  Greg Caldwell, the founder of Caldwell International Securities, was barred from the financial industry by FINRA for allegedly churning customers’ accounts. The firm will have to pay a $2 million fine for failing to supervise and prevent the abusive sales practices engaged in by Greg Caldwell. […]

Continue Reading

Spurs All-Star, Tim Duncan, Sues Advisor

By Tom Costello of Costello Law Group  NBA All-Star, Tim Duncan, sued his Atlanta-based financial advisor, Charles Banks, last month after alleging Banks advised him to purchase highly speculative investments which resulted in extreme losses. Banks acted as Duncan’s financial advisor for over fifteen years. Duncan is claiming losses of $7.5 million. Duncan […]

Continue Reading