The Securities and Exchange Commission has no way to track the number of registered investment advisor arbitrations or unpaid arbitration awards, according to a just-released report. Last year, the House Appropriations Committee expressed concerns about the proliferation of mandatory arbitration clauses among SEC-registered investment advisors and...
SALT LAKE CITY, UTAH- Antiguos clientes de Wealth Navigation Advisors (WNA) d/b/a Oak Lane Advisors, con sede en Centerville, Utah, presentaron una demanda contra la firma de asesoría por más de $ 850,000 perdidos en un esquema Ponzi dirigido por uno de los exasesores de...
SALT LAKE CITY — Mark Fox says he met Stephen Romney Swensen 25 years ago when the two had adjacent hangars at the Ogden-Hinckley Airport. The two became friends, and Fox learned that Swensen was also a financial adviser. For 20 years, Fox had no reason...
CENTERVILLE, Utah (KUTV) — A lawsuit was filed on Tuesday against Centerville-based financial group Wealth Navigation Advisors in connection to a decade-long Ponzi scheme that resulted in around $30 million being stolen from over 50 people. A man who lost his entire retirement in the scheme...
[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text]Attorneys: Stephen Romney Swensen Pitched the Fictitious Fund as a “Bucket 1” Investment, But Spent the Money on Airplanes, Mistresses and Lavish Lifestyle. Swensen Took His Own Life When the Deception Was Exposed. SALT LAKE CITY – MAY 23,...
Attorneys: Stephen Romney Swensen Pitched the Fictitious Fund as a “Bucket 1” Investment, But Spent the Money on Airplanes, Mistresses and Lavish Lifestyle. Swensen Took His Own Life When the Deception Was Exposed. SALT LAKE CITY – MAY 23, 2023 – Former clients of Wealth Navigation...
"Credit Suisse has asked a New York federal judge to permanently toss a proposed class action alleging it caused retail investors substantial losses in delisting a popular exchange-traded note, arguing the investment banking company put out adequate warnings about the note's risks. Credit Suisse AG said...
Georgia Ruling Found Wells Fargo and FINRA in Cahoots, Tainting the Arbitration Panel Selection Process; Wronged Investors Demand Answers from FINRA WASHINGTON, DC – February 2, 2022 – Last week, the Superior Court of Fulton County, GA found that Wells Fargo Counsel and FINRA Dispute Resolution...
GPB Capital made the headlines when its CEO, David Gentile, a former managing partner, Jeffrey Lash, and the CEO of Ascendant Capital, Jeffry Schneider, were arrested and charged with fraud. The SEC (Securities and Exchange Commission) also charged the trio for running a Ponzi-like scheme. Months earlier,...
"The Securities and Exchange Commission’s recent move to install an outside monitor to oversee private-equity firm GPB Capital Holdings LLC has prompted some of the firm’s investors and their lawyers to ask what took so long. GPB Capital’s regulatory filings show that the SEC began probing...
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