July 2012 Archives

July 9, 2012

Former Ameritas Broker Barred From Industry for Securities Fraud

Buffalo Sign.jpgThe Financial Industry Regulatory Authority (FINRA) has barred a former Ameritas Investment Corporation broker in Fair Oaks, California, from associating with any FINRA member as part of a securities fraud settlement. According to FINRA, former Ameritas broker Thomas Hammond solicited customers to investment in a "private fund" that offered better than average yields. In reality, the funds were deposited into an account that Hammond controlled and, when one particular customer asked for return of their money, Hammond paid them back using money fraudulently obtained form another customer.

Our securities law firm continues to investigate complaints on behalf of clients who were customers of Ameritas Corp. Click here for all blog posts related to Ameritas Investment Corp.