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Glitch Idles E-Trade Customers

Washington Post

Thousands of customers of E-Trade Group were frozen out of the stock market during peak trading hours this morning, when the start-up trading house that rode technology to become a major player in the securities business was frozen by a software glitch. At 10:15 a.m., customers trying to buy and sell stocks online and through […]

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Many Unhappy Returns / Ex-Stratton customers still fighting to recoup $130M

Newsday

STRATTON OAKMONT, a large penny stock “boiler room” operation formerly based in Lake Success, left a trail of wreckage behind when regulators closed it for fraud in December, 1996. That wreckage has just begun to surface in court documents and reports as regulators and a bankruptcy trustee work to untangle the mess. Newsday earlier this […]

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Federal District Court Orders Prudential and Smith Barney to Pay

Unknown

Federal District Court Judge William Mathew Byrne, Jr. yesterday issued a ruling upholding the award of more than $700,000.00 in damages by an NASD arbitration panel. Susan Taus, a single mother of four, had filed her claim against Smith Barney and Prudential in September of 1997 alleging that they had breached their fiduciary duty to […]

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Regulators close in on Naples brokerage firm A.S. Goldmen & Co.

Naples Daily News

Several days before New York and Florida agents raided his Port Royal mansion and stock brokerage firm in April, Anthony “Tony” Marchiano discovered an undercover agent had infiltrated his Naples office. The new guy, a cold caller, was quietly dismissed. Later, Marchiano’s wife told some of the brokers this: Marchiano carries a small device to […]

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Could you fall this hard for a stockbroker's scam?

Medical Economics

fast-talking broker swindled one doctor out of almost $185,000. Such scenarios happen a lot more often than you’d think. Clark Gardner was the classic cold-call victim. Although initially skeptical when a broker he didn’t know phoned, the Los Angeles radiologist was won over by the fellow’s persuasiveness. Like many specialists, Gardner had seen his income […]

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