News

The Financial Industry Regulatory Authority has filed a complaint against a Raymond James financial advisor who allegedly took advantage of an elderly client with diminished capacity and attempted to swindle $1.8 million dollars from her estate.

The official FINRA complaint alleges that John Waszolek – who was a financial advisor at UBS Wealth Management at the time of the incident - knew that his 81-year-old customer had been diagnosed with Alzheimers Disease and consequently suffered from dementia and memory loss. By the end of 2007, the victim had become frail, withdrawn, isolated and would often forget with whom she was speaking on telephone calls.

Former chief compliance officer William Michael Quigley is facing both civil and criminal charges for a decade-long investment scheme that diverted $800,000 of investor's money to accounts for his and his brother's personal use. After convincing foreign investors to invest in high-profile US companies such as Berkshire Hathaway and Dell, Inc., Quigley would funnel the money to his two brothers in the Philippines, who would then send the investors fake account statements.