Investment Loss

Citigroup Global Markets – Exchange Traded Funds Misconduct

May 2, 2012

The Financial Industry Regulatory Authority recently fined Citigroup Global Markets because: FINRA found that from January 2008 through June 2009, the firms did not have adequate supervisory systems in place to monitor the sale of leveraged and inverse ETFs, and failed to conduct adequate due diligence regarding the risks and features of the ETFs. As […]

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LPL Financial Smacked For Tenant-in-Common Investments

February 15, 2012

According to a recent article in The Investment News, LPL Financial was just hit with a$1.4 million award for selling Tenant-in-Common investments, commonly known as TICs, to an elderly couple.  According to the elderly couple’s attorney: There was a fraudulent picture painted of investors receiving monthly income checks from the properties . . . That […]

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Did You Lose Money Through Peregrine Financial Group?

February 15, 2012

Salas Wang LLC is investigating claims against Peregrine Financial and its introducing  brokers, Clash Financial LLC , Oxford Trading Group, California Capital Trading Group LLC, and Patriot Financial Markets LLC.  The National Futures Association fined Peregrine because, according to the NFA’s complaint, its introducing brokers: routinely recommended trades and trading strategies that maximized commissions without regard for the best interests […]

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Wells Fargo Broker Accused of Stealing From Elderly Client

January 24, 2012

Another sad story about a stockbroker taking advantage of an elderly client.  According to Forbes, Ralph Edward Thomas Jr. of Baltimore misused his elderly client’s funds in a number of ways, including: Between June 2006 and May 2009, without permission, and through forgery, Thomas initiated three mortgages in the name of KL on her personal […]

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Citigroup Documents Show Broker Manipulation

January 16, 2012

The NY Times had a great article this weekend about how Citi sold its ASTA/MAT municipal arbitrage securities.  The article explained how risky these securities were, and how Citi hid that risk from investors.  Specifically, the article quoted a Citi broker that said: I’m sure a great deal of time and energy went into the […]

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Behringer Harvard REIT Investigation Ramps Up

January 13, 2012

Salas Wang LLC was already investigating and bringing cases for investments in Behringer Harvard.  But, as the Investment News points out, Behringer Harvard is actually starting to admit that its investors lost 60% of their original investment.  Our investigation has been focused on the details of the investment that brokers aren’t telling their clients.  Specifically, […]

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