{"id":1781,"date":"2016-01-27T20:23:53","date_gmt":"2016-01-27T20:23:53","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2016\/01\/ameriprise_must_pay_womans_est"},"modified":"2016-01-27T20:23:53","modified_gmt":"2016-01-27T20:23:53","slug":"ameriprise-must-pay-womans-est","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ameriprise-must-pay-womans-est\/","title":{"rendered":"Ameriprise Financial Must Pay Woman\u2019s Estate Over $2M For Broker Fraud"},"content":{"rendered":"

\t\t\t\tA Financial Industry Arbitration panel says that Ameriprise Financial (AMP) must pay over $2M to the estate of Glenny B. White for losses related to broker fraud<\/a> committed by an ex-firm broker. The executor of White’s estate claims that Ameriprise Financial Services did not properly supervise former broker Jeffrey Davis.<\/p>\n

In 2014, Davis admitted to stealing money from White and other clients. White was his client for almost ten years before she found out in 2013 that he was stealing funds from her. She died at the age of 91 in 2014.<\/p>\n

Davis has since been fired from Ameriprise, and FINRA barred him from the brokerage industry. Last year, he was sentenced to over four years in prison after pleading guilty to wire fraud and admitting to stealing almost $200K from clients.<\/p>\n

On Finra’s BrokerCheck report about Davis, it is noted that in at least two cases involving Ameriprise clients the firm had reported to the regulator that their funds were misappropriated.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A Financial Industry Arbitration panel says that Ameriprise Financial (AMP) must pay over $2M to the estate of Glenny B. White for losses related to broker fraud committed by an ex-firm broker. The executor of White’s estate claims that Ameriprise Financial Services did not properly supervise former broker Jeffrey Davis. In 2014, Davis admitted to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3791,3773,3774,3752,3739],"tags":[],"class_list":["post-1781","post","type-post","status-publish","format-standard","hentry","category-ameriprise-securities-america","category-broker-fraud","category-broker-dealers","category-financial-firms","category-finra"],"yoast_head":"\nAmeriprise Must Pay Over $2M For Broker Fraud — Securities Fraud Attorneys<\/title>\n<meta name=\"description\" content=\"A FINRA panel says that Ameriprise Financial (AMP) must pay over $2M to the estate of Glenny B. White for losses related to broker fraud. 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