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Stories of Interest
- Inside Scaramucci’s Extreme Loyalty to Trump – William Cohan
- Who President Trump Can Pardon, and Who He Can’t
- Ex-UBS Compliance Officer, Day Trader Deny Insider Trading
- Private Equity’s Big Bets on Financial Tech
- Trump Reportedly Floats Making Rudy Giuliani Attorney General
- Mastercard Wins Dismissal of $18 Billion Class Action Suit
- Jailed Schroders Trader Also to Pay $456K for His 'Criminal Lifestyle'
- Raymond Lucia, Ex-Radio Host Asks U.S. Top Court to Rule On Administrative Law Judges
- As Trump Administration Circles the Drain, Anthony Scaramucci Finally Lands West Wing Job
- Internal Power Struggle Rattles Guggenheim Partners
- Why Most People Will Never Be Successful
- Top Deutsche Bank Trader Leaves After Risky Bets Led to $60Mn Loss
- Bank of America Picks Dublin as EU Hub Post Brexit
- E*Trade Rises 4% as Q2 Earnings Beat Estimates
- I Scream, You Scream, FINRA Screams For Ice Cream ... or ... FINRA Deep-Freezes Broker
- Senate Panel OK's David Kautter, Trump Pick for Top Treasury Tax Job
- OJ Simpson Granted Parole After 9 Years in Prison
- PayPal to Partner with JPMorgan
- BNY Mellon Beats on Q2 Earnings as Revenues Improve
- I Scream, You Scream, FINRA Screams for Ice Cream ... or ... FINRA Deep-Freezes a Broker
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NEWSLETTERS & ALERTS
NBA, NFL Stars Hit Morgan Stanley, Wells Fargo with Arbitration Claims
Arbitration claims continue to flow in against Aaron Parthemer, a former financial adviser to NFL and NBA star athletes who worked for Morgan Stanley and Wells Fargo. FINRA barred the rogue broker from the industry in April 2015, but that was way after he mismanaged several clients’ finances and, in some cases, solicited clients to invest in his nightclub, which he owned from 2009 to 2012.
So, too, arbitration claims pouring in against Parthemer’s former employers, Morgan Stanley and Wells Fargo. Parthemer, who entered the industry in 1994, worked 2-1/2 years for Morgan Stanley Smith Barney (June 2009 to November 2011) and 3-1/2 years for Wells Fargo Advisors (October 2011 to May 2015). Parthemer also worked 2-1/2 for Citigroup Global Markets, the predecessor to Smith Barney.
New Claim: Two NFL players, Arizona Cardinals safety Antoine Bethea and former NY Jets linebacker Antwan Barnes filed $1.8 million in claims against MS and WF, accusing the firms of failing to supervise Parthemer. [Financial Planning]
Pending Claim: NFL cornerback Asante Samuel and Mega Millions lottery winner James Groves are jointly seeking $7.8 million in damages against Morgan Stanley in a pending arbitration case. [On Wall Street]
Awarded Claim: Former NBA player Keyon Dooling and former NFL player John St. Clair were awarded $819,000 in May 2016 in an arbitration case against Morgan Stanley. [Investment News]