Financial adviser received $1.5 million to steer clients to invest in friend’s business

  • 📰 njdotcom
  • ⏱ Reading Time:
  • 42 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 63%

@River Nouvelles

@Sub-Group-C,@Sub-Group-B,@Subscriberexclusive

The adviser's friend was the CEO of a New York comany who had been banned from the securities industry.

Authorities revoked the registration of a financial adviser from New Jersey who pocketed about $1.5 million when he steered two clients to invest their money with a CEO friend of his banned from the securities industry.

Carlos Leston convinced the clients — one of whom was in her late 80s — to buy a total of $3.65 million in high-risk securities in a New York lending company, the state Office of the Attorney General said Tuesday. The two clients liquidated the existing insurance annuities on which they use to cover living expenses and ended up losing a substantial amount of money, an amount that exceeded the benefits of purchasing the securities.N.J. weather: Clouds linger today. Warmer temps, sunny skies in forecast later this week.

If you purchase a product or register for an account through a link on our site, we may receive compensation.and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 282. in BE

Belgique Dernières Nouvelles, Belgique Actualités