Merrill Lynch Sued by Ex-NBA Star Kwame Brown

Ex-NBA star Kwame Brown is suing Merrill Lynch and his former financial advisor Michelle Marquez, for fraud. Brown claims that the advisor and Merrill Lynch stole $17.4 million of his money. Brown, who was the number one pick of the 2001 NBA Draft out of High School, claims he was a client of the firm…

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Former Merrill Lynch Broker Joshua Crossman Fined For Violations

A former Palm Beach Gardens, Florida Merrill Lynch broker, Joshua Crossman, was fined by the Financial Industry Regulatory Authority (FINRA) for “inaccurate business expense reimbursement reports.” Joshua Crossman allegedly submitted a $524 claim for mileage and dinner expenses that he claimed were for meetings with prospective clients. He then admitted that he made up the…

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Former Merrill Lynch Broker Kristen Lewis Barred From Industry

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), former Merrill Lynch broker Kristen Lewis was barred from the industry. Kristen Lewis failed to appear for an on-the-record testimony, after FINRA investigated her for her “conduct being inconsistent with firm standards related to personal bank accounts.”…

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Options For Whistleblowers: Merrill Lynch

Last month, the U.S. Securities and Exchange Commission (SEC) awarded three whistleblower Merrill Lynch brokers a record $83 million who were tied to a 2016 settlement with Bank of America Corp’s Merrill Lynch’s brokerage unit. This was the biggest ever payout to whistleblowers. Please call our law firm today for a no-cost review if you…

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Jonathan Belden; Merrill Lynch; Oakland, California

According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Jonathan Belden, a former registered broker with Merrill Lynch, has violated securities laws. Allegedly, Mr. Belden effected approximately 200 securities transactions in seven customer accounts without written discretionary authority from the customers and without his firm’s knowledge.…

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Merrill Discontinues Efforts to Fight More Than 60 Former Managers in Court

According to advisorhub online, Merrill Lynch has agreed to stop fighting the claims of more than 60 former managers seeking more than $1 billion in the Financial Industry Regulatory Authority (FINRA) arbitration forum. On March 27th, Merrill, according to a spokesperson, dismissed its efforts obtain preliminary injunctions in nine federal district courts that would have…

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Andrew Stoltmann Discusses With On Wall Street…

Andrew Stoltmann discusses with On Wall Street magazine the “revolving door” between regulators and brokerage firms with Merrill Lynch’s hiring of #FINRA’s Susan Axelrod this week. The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no…

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Bank of America in Trouble with New York State for Dark Pool Investments

According to a recent InvestmentNews article, Bank of America will pay $42 million to the state of New York to settle a probe into a so-called scheme where the firm misled clients about who was seeing and filling their orders and who was trading in its dark pool, called “Instinct X.” Beginning in 2008, Bank…

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Merrill Lynch Under the Gun with 19 Arbitration Claims

Merrill Lynch is attempting to stop 19 arbitration claims filed by former employees who allege millions in damages from stock losses. The brokerage firm filed federal court actions last week arguing that the claims are the same issues that have already been litigated previously, going back as early as 2007. Those alleged failure to disclose…

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Sexual Harassment Claims Against Merrill Lynch

Attorneys at Stoltmann Law Offices are investigating sexual harassment claims against brokerage firms such as Merrill Lynch. Lawsuits have been filed against the bank previously, alleging sexual harassment and other misconduct by employees. According to the New York Times in April of 2004, a panel of arbitrators awarded $2.2 million to a women who claimed…

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