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July 1, 2013

Representing Clients In Baltimore And Nationwide Home Blog WFP Securities Ordered to Millions in Restitution to Investors

A FINRA arbitration panel has ordered WFP Securities to pay investors close to $19 million. This money will be put into a trust for investors victimized by the scheme. According to a Wall Street Journal article, WFP brokers recklessly advised clients to invest their savings in the scheme without conducting adequate due diligence. The trust was awarded $6.5 million in compensatory damages, $7.5 million in punitive damages and $4.5 million in attorneys’ fees.

For more information visit finra.org

For more information on Ponzi schemes visit the SEC’s website at sec.gov