National Planning Ordered to pay $2.6M to Older Investor
A Financial Industry Regulatory Authority (FINRA) panel is ordering National Planning Corp. to pay a customer, who is in her eighties, $2.6M after her former stockbroker, William August Glaser, sold her unsuitable investments. The investments including fraudulent promissory notes and non-traded REITs (real estate investment trusts). $1M of the award is for punitive damages.
William Glaser, who was fired by National Planning and barred by FINRA in 2017, is currently in prison for wire fraud.