Michael A. Horowitz
Broker admits using nursing home residents as pawns in annuities scheme, agrees to $850,000 settlementAugust 04, 2014
The mastermind of a financial fraud that victimized nursing home residents has admitted wrongdoing and will pay $850,000 in a settlement, the Securities and Exchange Commission announced Thursday.
Two investment brokers and their associates are facing charges that they stole nursing home residents' personal information to perpetrate annuities fraud, the U.S. Securities and Exchange Commission announced Thursday. A $4.5 million settlement has been reached with some of the parties.