Selecting an attorney for legal cases is a very important decision. Please enter your information below to receive a Free Consultation from an attorney in your area:
Securities
News
Stock Broker Sentenced In Fraud Scheme
R. Alexander Acosta, United States Attorney for the Southern District of Florida, and Michael S. Clemens, Special Agent in Charge, Federal Bureau of Investigation, announced today that a federal judge in Miami, Florida sentenced a former T.D. Waterhouse stock broker to 27 months imprisonment for pilfering more than $120,000 from clients’ securities brokerage accounts. Ramon G. Oliveros, 37, was sentenced this afternoon by U.S. District Court Judge Ursula Ungaro Benages to 27 months’ imprisonment and 2 years of supervised release and was ordered to pay restitution in the amount of $121,910. Oliveros was employed by TD Waterhouse as an assistant branch manager in the Coral Gables branch. He is listed in NASD records as a registered Investment Advisor Representative.
He was indicted on 8 counts of securities fraud on May 11, 2005, and entered a guilty plea on June 29, 2005. The Indictment charged that Oliveros identified money market accounts that had been opened by three separate investors, all of whom lived outside the United States, whose accounts reflected little banking activity. He identified one account in particular and arranged for the TD Waterhouse Customer Service Center to send him a new ATM card and pin number for that account. He then found two other accounts at the bank that had little activity and wired money into the account he now controlled. From June 1, 2003 through July 19, 2004, Oliveros caused the sale of securities form these accounts, totaling more than $120,000.
He then withdrew the money through various ATM machines. After being alerted to this excessive ATM activity, the TD Waterhouse fraud department discovered that all of the transfer and deposit instructions originated from e-mails sent by Oliveros. Mr. Acosta commended the investigative efforts of the Federal Bureau of Investigation and FBI Special Agent Ann M. Eddy. The case was prosecuted by Assistant United States Attorney Wilfredo Fernandez. The U.S. Attorney commends the efforts of the Federal Bureau of Investigation , the U.S. Securities and Exchange Commission and the Florida Department of Financial Regulation, Bureau of Securities for their work on the matter.
Definition:
A strategy involving the simultaneous purchase and sale of identical or equivalent commodity futures contracts or other instruments across two or more markets in order to benefit from a discrepancy in their price relationship. In a theoretical efficient market, there is a lack of opportunity for profitable arbitrage. See Spread.
Par
Definition:
Refers to the standard delivery point(s) and/or quality of a commodity that is deliverable on a futures contract at contract price.
Abandon
Definition:
To elect not to exercise or offset a long option position
If you live in the following cities and need an securities attorney you should contact
our Securities Attorney as soon as possible:
Abbeville
Alexandria
Baker
Bastrop
Baton Rouge
Bogalusa
Bossier City
Breaux Bridge
Chalmette
Covington
Crowley
Denham Springs
Deridder
Gonzales
Gretna
Hammond
Harvey
Houma
Kenner
La Place
Lafayette
Lake Charles
Leesville
Mandeville
Marrero
Metairie
Monroe
Morgan City
Natchitoches
New Iberia
New Orleans
Opelousas
Pineville
Prairieville
Ruston
Shreveport
Slidell
Sulphur
Thibodaux
Ville Platte
West Monroe
Westwego
Zachary
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Louisiana Securities Attorneys.com is not intended to be legal advice, but merely conveys
general information related to legal issues commonly encountered. Your access
to and use of this website is subject to additional Terms
and Conditions.
Local Professional? Generate new business today
Call 866-227-9356 or contact a sales rep
Did You Know?