2024 0215 - PIABA - Testimony - Joseph C. Peiffer, President, Public Investors Advocate Bar Association --- [BonkNote] --- 30p
[David McFadden]
2006 0829 - WSJ - A Star Broker, 'Virtually Unsupervised,' Puts Ameriprise Arm Under Scrutiny, by Susanne Craig - [link-f]
David McFadden is one of the top brokers at Securities America. How he achieved this feat is now the focus of a National Association of Securities Dealers investigation and recently contributed to a $22 million arbitration award against the firm, a brokerage arm of Ameriprise Financial Inc.
For years Mr. McFadden courted employees of oil giant Exxon Mobil Corp. He boasted that he was a certified public accountant and told many of the employees they were set for retirement and promised impressive returns, according to documents filed in a 2003 arbitration claim.
Joe Peiffer and Jim Swanson, lawyers with the New Orleans law firm Correro Fishman Haygood Phelps Walmsley & Casteix LLP, say many of their clients have been forced back into the work force and in some cases have had to sell their homes to make ends meet.
2010 0127 - InvestmentNews.com / AssociatedPress - Scammed Exxon Mobil retirees applaud sentencing of ex-Securities America rep - [link]
An Alabama man who ran a financial services company in Baton Rouge was sentenced Thursday to five years in prison for a securities fraud scheme in which more than 150 clients lost tens of millions of dollars after they retired.
2010 - LC - USA v. David McFadden, No. 10-30095 (5th Cir.)