Skip to main content

Blog

Notice to LPL Financial, LLC Customers — Aidikoff, Uhl & Bakhtiari Launches Investigation of non-traded REIT recommendations — LPLA

Aidikoff, Uhl & Bakhtiari announces the launch of an investigation of the sales practices of LPL Financial, LLC in recommending non-traded REITs to their clients.  The investigation follows the recently filed complaint by the Commonwealth of Massachusetts Securities Division into similar non-traded REIT sales practices.  The Massachusetts complaint charged LPL with dishonest and unethical business […]

Read More

UBS pays $1.5 billion to settle Libor probe

A sole UBS trader used a combination of bribery, flattery and fictitious trading to rig the price of money over three years, regulatory filings show. The employee, only identified by regulators as “Trader A,” colluded with brokers, counterparts at other firms and his colleagues to influence yen Libor, which reflects how much banks charge each for […]

Read More

Massachusetts files complaint against LPL for non traded REITs

LPL one the largest independent U.S. broker-dealers, was accused by Massachusetts regulators today of dishonest and unethical business practices and failure to supervise agents who made improper sales. The complaint relates to sales of seven non-traded real estate investment trusts in violation of state and company rules, according to a statement from the state’s senior […]

Read More

Diamondback Capital to wind down funds and close

Hedge fund Diamondback Capital Management LLC told investors Thursday that it plans to close and wind down its funds after receiving redemptions requests totaling more than a quarter of its assets. In a letter to investors Thursday, the Stamford, Conn., hedge fund’s founders Richard Schimel and Larry Sapanski said they received redemption requests for Dec. […]

Read More

Ex-Fair Finance CEO Timothy Durham sentenced to 50 years

The Securities and Exchange Commission announced that on November 30, 2012, Timothy S. Durham, former CEO of Ohio-based Fair Finance Company (“Fair Finance”), was sentenced to 50 years in prison for orchestrating a $200 million scheme that defrauded more than 5,000 investors over almost five years. Judge Jane Magnus-Stinson of the United States District Court […]

Read More