Posted on 08/21/2003 8:27:04 AM PDT by Liz
Edited on 05/26/2004 5:16:09 PM PDT by Jim Robinson. [history]
The Securities and Exchange Commission slapped UBS Financial Services with a $500,000 fine for failing to supervise a former broker who swindled millions from his clients.
The broker, Enrique Perusquia, is currently serving a 78-month prison sentence for defrauding his clients of "tens of millions of dollars" says the SEC's order. He worked for PaineWebber from June 1994 until March 1998; UBS bought PaineWebber in 2000.
(Excerpt) Read more at nypost.com ...
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