SCAMS-R-US

[XenaLives]

Wilson Davis... again!

The Turners and the other investors in the case pending before Finra, who are seeking $6 million in damages, are not suing their former adviser Sheik F. Khan, whose finances are precarious. In a settlement with Finra in November, Khan agreed to a bar of four months and ten business days but was spared monetary sanctions because the regulatory authority said she had "demonstrated an inability to pay."

That case involved Khan's sale of a list of 31 clients to the man who the government says is the ringleader of the scheme involving VGTel and other penny stocks, Edward Durante. He, Khan, Werbel and a former stockbroker at Wilson-Davis and COR, Christopher Cervino, all were charged in the January indictment. Durante is still in hock to the Securities and Exchange Commission for $25 million related to a previous fraud case.

https://www.thestreet.com/story/13527493/2/retirement-fallout-from-a-penny-stock-scam-we-don-t-do-hardly-anything.html