Apparently fraud million cost for Augusta
If Ronald Robinson has recently $ 111000, the Fund has remained retiring at Salomon Smith Barney, its new broker asked unusual questions.
“It was actually a leaf and he went,” said Robinson, a former Procter & Gamble workers. “Bill Gibbs has never done.”
Mr. Gibbs has been more than 60 cases in arbitration claims that the former branch of AG Edwards & Son’s Augusta office have several securities laws. Most of these fraud and deception, costing millions of customers who had invested with him, according to indications.
While these people are not the only major, lost in the disappointing results of the Stock Exchange in recent years, they are somewhat different, “said Edward Dovin, an Atlanta lawyer as representatives of the majority of claimants.
“These people do not lose money, because the market,” said Dovin, who has worked on the case of securities markets in 15 years. “The money lost because of fraud.”
The securities industry is one of the most regulated in the country. There are strict rules, which is a stockbroker can say to a customer or potential customers.
Broker must declare the investment risk for customers.
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