Join Early Retirement Today
Reply
 
Thread Tools Display Modes
...and now for the religious news.
Old 05-09-2009, 06:35 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,668
...and now for the religious news.

Scamming a nun is no worse than scamming any of the rest of us, but some of these guys would scam a big rock in the middle of the road if it could generate a commission for them.

Quote:
In the scam to deceive the nun, FINRA said, instead of investing as promised two checks she gave him totaling $531,000, Boyle deposited one check into his personal joint bank account and the second into a mutual fund account held in his name. Boyle also persuaded a retired couple and an elderly widow to give him additional checks totaling approximately $80,000—which he again deposited into his own accounts, using the funds for his own benefit, FINRA said.

The nun inherited approximately $532,000 in mutual fund holdings when her mother died. Because she has taken a vow of poverty, the nun had intended for the money to go to her religious order. The nun's mother held an account at Legg Mason and Boyle was the broker who handled the mother's account. In October 2004, shortly after her mother's death, the nun opened an account with Boyle at Legg Mason and transferred the mutual fund holdings into that account. When Boyle recommended another investment later that month, a portion of her mutual fund holdings was sold and a $125,000 check was mailed to her from Legg Mason. Boyle instructed the nun to sign the check and mail it back to him. Without the nun's knowledge, Boyle then deposited the $125,000 into his own personal joint bank account and used these funds for his own benefit.
FINRA: Broker Deceived 64-Year-Old Nun
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone Else Reading Heretical Religious Writings Danny Other topics 6 04-09-2006 02:57 PM
ER religious preference azanon Other topics 156 03-10-2005 07:32 AM

» Quick Links

 
All times are GMT -6. The time now is 12:25 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.