However, if this case is going to send Mandell and Harrington to prison for many years then the government had better start talking about some laws that have been broken rather than a one-time stock broker (Grabowski) who had a change of heart because he no longer believed his own sales pitch.
My ex-husband, a stock broker, was a compulsive gambler who lost a fortune of my inheritance.
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The bulls clutch their certificates close to their chests, keeping the shares out of the broker's stock-lending department.
The creditor says McLaughlin tried to pay off a debt with common stock in his company, even recommending a Boca Raton, Fla. broker, since sanctioned for penny-stock scams, who could supposedly sell the shares on the open market.
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The Financial Industry Regulatory Authority, which oversees broker-dealers along with the stock exchanges, sent a warning to member companies last week.
Charles Schwab ( SCHW - news - people ) broker when the stock market crashed in October 1987.
Emerging from the world of penny stock operators, the company survived a cast of dubious financiers during the late eighties and early nineties: a Genovese crime family-associated broker, a Ponzi schemer and a stock swindler, whose firm inspired the movie Boiler Room, none of whose wrongdoings was related to BioReference or Grodman.
When an individual investor successfully disputes a stock trade, his brokerage generally will seek compensation from these broker-dealers.
Last month, on the Monday after Bear Stearns' collapse, the SEC proposed a new "naked short-selling anti-fraud rule" that is supposed to rein in manipulative trading by preventing short-sellers from misrepresenting to a broker that they have properly located stock to borrow to sell short.
Miller also defrauded another broker-dealer into taking on a significant short position in Apple stock to hedge against the large purchase of Apple stock he was executing at Rochdale, authorities said.
Or consider a broker who e-mails someone a question about the trading volume at which a certain stock would be likely to rise (or fall).
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If you agree, put 10% of your money in a hard-assets stock fund (see table below) or in some commodity positions you place yourself at a broker.
"Don't just buy a stock because a broker recommended it, " says Walter Carucci, chief executive of Port Washington, New York-based Carr Securities, an over-the-counter marketmaker.
Instead of finding a lender of shares, they have their broker just run up an electronic tab, so to speak, on the books of a stock-clearing corporation.
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