By Brian N. Smiley In recent months, the brokerage industry has been the subject of scathing headlines about fraud, corruption and conflicts of interest. The media have reported on abuses ranging from tainted research reports to outright theft by brokers. Investors have lost billions of dollars and confidence in securities markets has plummeted. Happily for […]
Wall Street: With The New Year, New Scams
New York Times quotes Brian Smiley on investment scams. An investor stampede for mutual funds that invest in “Republican” investment plays? A brokerage firm that cleans up selling its underwritings of Chinese cellular phone companies to United States municipalities? Where will the financial scams, disasters and embarrassments of 1995 be found? And will the D-word […]
Nabih v. Shearson Lehman Hutton
Wealthy international investor recovers losses and fees. Brian Smiley represented an Egyptian accountant who invested funds with a US brokerage firm’s Atlanta office. His broker churned his funds and sent him false information concerning the status of his accounts. An NYSE arbitration panel awarded the client all of his losses, his costs, and his attorneys’ fees. He […]
