Search results
Results from the WOW.Com Content Network
All investments carry some degree of risk, but there's a distinct line between a risky investment and a downright scam. Unfortunately, scams are prevalent. According to data from the Federal Trade...
Between 1978 and 1983, Ron Rewald ran an investment firm in Hawaii. The firm declared bankruptcy in 1983 and was revealed to have been a Ponzi scheme which defrauded over 400 investors of more than $22 million. [28] Rewald claimed that he had been operating the firm as a front for the U.S. Central Intelligence Agency. [29]
The firm charged clients larger fees than most similar firms did, including a 20% share of profits on investments, about double what competitors charged that farmed out clients' money to a variety of fund managers. In October 2004, it also began collecting a 1% fee on assets under management. [22]
On May 29, 2009, Fairfield Sentry, based in the British Virgin Islands, filed a lawsuit seeking to recover more than $919 million in investment management and performance fees that it paid to Fairfield. The lawsuit alleges breach of fiduciary duty, and unjust enrichment. It is "the largest victim of the fraud perpetrated by Bernard L. Madoff ...
For premium support please call: 800-290-4726 more ways to reach us
24/7 Help. For premium support please call: 800-290-4726
In the 1990s SEI launched a wealth management operating platform for independent, fee-based investment advisors. [citation needed] In 1994, SEI was an early investor of LSV Asset Management and currently still holds a significant stake in the firm. [6] In 2012 SEI was sued by investors in connection with the financial crimes committed by Allen ...
Firm. Fees. Account Minimums. Morgan Stanley. As low as $0. As low as $0. JPMorgan Chase. As low as $0. As low as $0. UBS. 0.70% to 5% of the principal amount, plus a fixed fee; depending on the ...