Securities Arbitration Lawyers BlogNew York Broker Stanley Niekras Under Investigation for Elder Fraud
FINRA allegations include billing elderly clients $70,000 in false fees to make up lost commissions
Former Purshe Kaplan Sterling Investments and MML Investors Services, LLC adviser Stanley Clayton Niekras is under investigation by the Financial Industry Regulatory Authority (FINRA) for allegedly taking advantage of elderly clients.
In its complaint, FINRA alleges that Niekras billed two elderly customers more than $70,000 for both estate and financial planning services that he was not entitled to, in addition to the fact that Niekras did not receive his firm’s approval for such billing.