 |
| Related Articles |
|
|
February 14, 2002
Unauthorized trading, negligence, omission of facts and breach of fiduciary duty. These charges often scare potential investors out of entrusting their finances with a stockbroker. Investment fraud has ruined many lives in the past. Stockbrokers have defrauded their clients out of millions of dollars, wiping out savings accounts and investor dreams in the process. Recently, the clients of a Florida stockbroker came face to face with the harsh realities of investor fraud.
Tania Torruella pledged enormous gains to her clients. She guaranteed annual returns of fifty to seventy percent. Instead, unsuspecting investors lost millions. Torruella stands accused of several major Securities and Exchange Commission (SEC) violations, including unauthorized trading, breach of fiduciary duty and negligence. Dozens of complaints have been filed against the broker and her former employer, Merrill Lynch & Co. Merrill has already settled many claims, paying out nearly $20 million.
|