December 9, 2024/US SEC — The Securities and Exchange Commission today charged Denver resident Ian G. Bell with securities fraud for lying to investors and misappropriating their funds in connection with a fraudulent day-trading scheme. The SEC’s complaint alleges that, between July 2020 and March 2023, Bell raised more than […]
Frauds & Scandals
SEC Charges Morgan Stanley Smith Barney for Policy Deficiencies that Resulted in Failure to Prevent and Detect its Financial Advisors’ Theft of Investor Funds
December 9, 2024/US SEC The Securities and Exchange Commission today charged Morgan Stanley Smith Barney LLC (MSSB) with failing to reasonably supervise four investment adviser and registered representatives (hereafter, financial advisors) who stole millions of dollars of advisory clients’ and brokerage customers’ funds and for failing to adopt policies and […]
SEC Charges Ken Leech, Former Co-Chief Investment Officer of Western Asset Management Co., with Fraud
December 3, 2024/US SEC On November 25, 2024, the Securities and Exchange Commission charged Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a multi-year scheme to allocate favorable trades to certain portfolios, while allocating […]
