An irreverent Wall Street Blog
by Bill Singer
by Bill Singer
Bill Singer in Huffington Post: Phony Online Press Releases Touted by Stockbroker
Written: July 30, 2010
In a Complaint dated October 22, 2009, the United States Securities and Exchange Commission (SEC) alleged that from September 29, 2009, through October 2, 2009, Lambros D. Ballas engaged in a fraudulent scheme to manipulate the stock price of multiple publicly traded companies (including Google, Microsoft, and Walt Disney) by disseminating phony press releases and then hyping them on Internet bulletin boards such as Yahoo!.
It would have been bad enough if Ballas were simply another online pumper, dumper, or scammer. What makes this worse is that, Ballas, a 34-year-old resident of Huntington, New York, was a registered representative associated with an SEC registered broker-dealer. This wasn't just another yutz trying to make a quick, dirty buck. Ballas was a stockbroker.
Read Bill Singer's Entire Huffington Post Article at:
========================================================================
NEW FINRA MONTHLY DISCIPLINARY CASES
NOW ONLINE AND ANALYZED BY BILL SINGER
Regulatory lawyer Bill Singer has analyzed and posted the latest crop of FINRA disciplinary cases.
-
As the financial crisis continues, many registered representatives are feeling the economic pinch. One remedy for bridging the gap appears to be borrowing from customers. Of course, in some cases, an even better idea is to borrow and not repay. Another crop of cases reported for July 2010. READ HERE at http://www.rrbdlaw.com/enforcement-actions/tags.php?term=Borrowing&year=2010
-
They run those cute talking baby ads but what the hell is going on in their back-office? E*Trade gets hit with two regulatory actions for nearly half a million in fines. Erroneous margin charges, refusals to accept delivery instructions, log-in problems, failures to timely respond to customer complaints, and more. READ HERE at http://www.rrbdlaw.com/enforcement-actions/index.php?cid=1#2007009471101 and at http://www.rrbdlaw.com/enforcement-actions/index.php?cid=1#2007009471102
-
The securities industry touts how well tested and qualified folks are. However, it looks like test cheating is rampant. Is this a trend or a symptom? READ HERE at http://www.rrbdlaw.com/enforcement-actions/tags.php?term=Testing
-
When some brokerage employees feel the pinch of their finances they sometimes resort to creative diversions when it comes to submitting expense vouchers. READ HERE at http://www.rrbdlaw.com/enforcement-actions/tags.php?term=Expenses
http://www.rrbdlaw.com/enforcement-actions/index.php?cid=1
========================================================================
Don't Forget to Visit the BrokeAndBroker Blog!
http://www.brokeandbroker.com/index.php
[^top^]
Previous Entries
May 21, 2013
EMPLOYMENT TUESDAY AT BROKEANDBROKER.COMVisit the BrokeAndBroker Employment Page BrokeAndBroker.com JobsIf you are an employer seeking job c... Read On
May 19, 2013
Standby Letters of Credit. Bank Guarantees. Trading Platforms. Oh the crap that gets pushed on the unsuspecting and the unasked questions that too man... Read On
May 17, 2013
In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in March 2012, Claimants alleged causes of action includin... Read On
May 16, 2013
The $2.6 Million Question In Goldman Sachs Suitability ArbitrationFINRA arbitration Decisions tend to be unanimous, but, with increasing frequenc... Read On
May 16, 2013
FINRA arbitration Decisions tend to be unanimous, but, with increasing frequency, we are seeing decisions by two of three arbitrators -- and ther... Read On
May 16, 2013
In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in November 2011, Claimant Process Engineering Services as... Read On
May 16, 2013
Time and time again I have admonished registered persons about the dangers of using the old blank form short-cut. And, time and time again, I report a... Read On
May 15, 2013
In recent years, more individuals have been disqualified from service as an officer or director of a public customer based upon judicial findings of "... Read On
May 14, 2013
I dunno what it is with some folks but once you roll out the words "international" and "bank" and talk in hush tones about a prime bank note or a trad... Read On
May 14, 2013
Starting as early as May 2008 and continuing through February 2009, Christopher Rad, Cedar Park, TX, James Bragg, Chandler, AZ, Doyle Scott Elliott, J... Read On
May 14, 2013
In any profession, the good ones always seem to go the extra mile. Sometimes, however, those long distance runners may turn out to be Rosie Ruiz. &nbs... Read On
Related Topics
Tag Cloud
Internet FINRA Bear Stearns Bloomberg SEC NASD NYSE Money Laundering Due Diligence Waiver Forbes China Chepucavage Broy Woody Allen Madoff NAC NPR Marketplace Stanford UBS Ketchum Antitrust NASDAQ RRBDLAW Schapiro Bill Singer BrokerAndBroker USERRA Brokeandbroker.com Morgan Keegan Arbitration BrokeAndBroker.com Khuzami BrokeAndBroker Aleynikov Goldman Sachs Promissory Note U4 Bill SInger EFL CFTC Huffington Post Flash Crash arbitration RBC RRBDLAW.com Ponzi Affinity Fraud Wachovia Raymond James BrokeandBroker.com Expungement Fraud Securities Fraud Outside Business Activity Registered Rep Magazine FOREX BrokerAndBroker.com FBI Banc of America Pro Se Supreme Court Morgan Stanley Smith Barney E*Trade Margin email Penson U5 Defamation Protocol Wells Fargo Punitive Damages Citigroup Merrill Lynch ARS Employee Forgivable Loan Street Legal Morgan Stanley AWC Fidelity Bankruptcy Broke And Broker HFT David Sobel Ameriprise Commissions Spouse Schwab CRD Kenneth Starr IRS CNBC Complaint ATM Skimming Hacking Phishing Malware Naskovets Poteroba Koval Lincoln Financial Rakoff 2nd Circuit Second Circuit IRA 401k Forgery Tax RRBDlaw.com Email Netschi Moore Whistleblower Street Sweeper Tran Bharara Facebook Online Bonus TD Ameritrade Hedge Fund Smith Barney Lehman Brothers Scottrade Lehman Chase Hertz Insider Trading Bank of America Elles Bribe Auction Rate Securities Raiding Spam Edward Jones Medicare Dow Schumer Walter Bid Rigging Real Estate Discrimination Wall Street Statutory Disqualification Form U4 Indictment Boyland DOJ Corruption FTC Do Not Call FINRA Arbitration Costa Rica Settlement LIBOR Varney Plea Rule 8210 RRBDlaw Appeal Fowler LPL US Airways MSSB SunTrust Discovery Employment Rosenthal Recruiting Lawyer Trading Platform JP Morgan Employment Tuesday Wrongful Termination WaMu Solicitation REIT Martin Credit Cards Away Account Credit Repair PN Advisor Placement Group Forex Mortgage Merrill Exam Lee Borrowing Tax Lien Conversion Felony Misdemeanor Expenses ING OTR Jobs Florida Credit Card Elderly Annuity FNMA TIC DWI Suitability POA Power of Attorney Casino NSF MF Global Counterfeit Preet Bharara Corzine Hacker Prison NASAA FCPA Identity Theft Gold Dell Bar Injunction Deutsche Bank HSBC Eric Stein Wire Fraud CCO Joshua Brown Backstage Wall Street Outside Account Options Telephone Social Media ADA Tax Fraud Retirement OBA Equity Indexed Annuities EIA MetLife Continuing Education Impersonation Annuities ETF Mail Fraud Signatures BitTorrent Crowdfunding Away Accounts Dodd Frank Checks Congress Wife Bank Discretion Restaurant Commodities Private Securities Transaction Offer of Settlement Chase Investment Services Barclays Willful T&P Husband Knight Signature Judgments Undisclosed Settlement Trainee Fee Trust Test TSSB Trustee