Investment Fraud Expert Witnesses

Investment fraud expert witnesses may be called upon to advise and testify regarding asset misappropriations, financial fraud, financial investment strategy, conflicts of interest and more.  SEC Press Release 2014-76, April 15, 2014, announces charges against the San Diego investment advisory firm Total Wealth Management and its owner and CEO Jacob Cooper, chief compliance officer, and another employee for misleading investors and breaching their fiduciary duties to clients.

The SEC’s Enforcement Division alleges that Total Wealth and Cooper entered into undisclosed revenue sharing agreements through which they paid themselves kickbacks or so-called “revenue sharing fees.”  Wikipedia defines kickbacks as “a form of negotiated bribery in which a commissionis paid to the bribe-taker as a  quid pro quo for services rendered. Generally speaking, the remuneration (money, goods, or services handed over) is negotiated ahead of time. The kickback varies from other kinds of bribes in that there is implied collusion between agents of the two parties, rather than one party extorting the bribe from the other.”

The SEC order seeks return of allegedly ill-gotten gains plus interest, financial penalties, an accounting, and remedial relief.

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About Karen Olson

Information Professional with twenty years experience in legal, public record, and business research. Fifteen years law firm experience.

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