{"id":4284,"date":"2017-04-14T17:34:40","date_gmt":"2017-04-14T22:34:40","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4284"},"modified":"2022-03-25T14:06:15","modified_gmt":"2022-03-25T19:06:15","slug":"broker-fraud-finra-arbitration-panel-awards-investor-1m-misleading-variable-annuities-sales-pitch-broker-dealer-owner-gets-prison-sentence-100m-stock-loan-scheme-fugitive-broker","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/broker-fraud-finra-arbitration-panel-awards-investor-1m-misleading-variable-annuities-sales-pitch-broker-dealer-owner-gets-prison-sentence-100m-stock-loan-scheme-fugitive-broker\/","title":{"rendered":"Broker Fraud: FINRA Arbitration Panel Awards Investor $1M After Misleading Variable Annuities Sales Pitch, Broker-Dealer Owner Gets Prison Sentence in $100M Stock-Loan Scheme, &#038; Fugitive Broker is Arrested After 20 Years On the Run"},"content":{"rendered":"<p><strong>Investor Awarded Over $1M After Allegedly Misleading Sales Pitch by Wilbank Securities Broker <\/strong><\/p>\n<p>A Financial Industry Regulatory Authority panel has awarded investor Grace S. Huitt over $1 million in her <a href=\"https:\/\/www.stockbroker-fraud.com\">broker fraud claim <\/a>against Wilbanks Securities. According to Huitt, one of the firm\u2019s brokers presented her with a sales pitch about the ING Landmark Variable Annuity that not only was misleading but also promised too much and then under-delivered. She alleged breach of contract, fraud, breach of fiduciary duty, and negligent supervision.<\/p>\n<p>Huitt claims that when she bought the variable annuity in 2008, she was told that it came with a guaranteed 7% compound yearly return. Other investors who also had made investment puchases through Wilbanks Securities reportedly claimed similar problems with what they were promised.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/broker-fraud-finra-arbitration-panel-awards-investor-1m-misleading-variable-annuities-sales-pitch-broker-dealer-owner-gets-prison-sentence-100m-stock-loan-scheme-fugitive-broker\/#more-4284\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor Awarded Over $1M After Allegedly Misleading Sales Pitch by Wilbank Securities Broker A Financial Industry Regulatory Authority panel has awarded investor Grace S. Huitt over $1 million in her broker fraud claim against Wilbanks Securities. According to Huitt, one of the firm\u2019s brokers presented her with a sales pitch about the ING Landmark Variable [&hellip;]<\/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":[3773,3774,3739,3884],"tags":[2786],"class_list":["post-4284","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-broker-dealers","category-finra","category-variable-annuities","tag-wilbanks-securities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Broker Fraud: FINRA Arbitration Panel Awards Investor $1M After Misleading Variable Annuities Sales Pitch, Broker-Dealer Owner Gets Prison Sentence in $100M Stock-Loan Scheme, &amp; Fugitive Broker is Arrested After 20 Years On the Run &#8212; Investor Lawyers Blog &#8212; April 14, 2017<\/title>\n<meta name=\"description\" content=\"Investor Awarded Over $1M After Allegedly Misleading Sales Pitch by Wilbank Securities Broker A Financial Industry Regulatory Authority panel has awarded &#8212; April 14, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/broker-fraud-finra-arbitration-panel-awards-investor-1m-misleading-variable-annuities-sales-pitch-broker-dealer-owner-gets-prison-sentence-100m-stock-loan-scheme-fugitive-broker\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Broker Fraud: FINRA Arbitration Panel Awards Investor $1M After Misleading Variable Annuities Sales Pitch, Broker-Dealer Owner Gets Prison Sentence in $100M Stock-Loan Scheme, &amp; Fugitive Broker is Arrested After 20 Years On the Run &#8212; Investor Lawyers Blog &#8212; April 14, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Investor Awarded Over $1M After Allegedly Misleading Sales Pitch by Wilbank Securities Broker A Financial Industry Regulatory Authority panel has awarded &#8212; April 14, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Broker Fraud: FINRA Arbitration Panel Awards Investor $1M After Misleading Variable Annuities Sales Pitch, Broker-Dealer Owner Gets Prison Sentence in $100M Stock-Loan Scheme, & Fugitive Broker is Arrested After 20 Years On the Run &#8212; Investor Lawyers Blog &#8212; April 14, 2017","description":"Investor Awarded Over $1M After Allegedly Misleading Sales Pitch by Wilbank Securities Broker A Financial Industry Regulatory Authority panel has awarded &#8212; April 14, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/broker-fraud-finra-arbitration-panel-awards-investor-1m-misleading-variable-annuities-sales-pitch-broker-dealer-owner-gets-prison-sentence-100m-stock-loan-scheme-fugitive-broker\/","twitter_card":"summary_large_image","twitter_title":"Broker Fraud: FINRA Arbitration Panel Awards Investor $1M After Misleading Variable Annuities Sales Pitch, Broker-Dealer Owner Gets Prison Sentence in $100M Stock-Loan Scheme, & Fugitive Broker is Arrested After 20 Years On the Run &#8212; 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