March 27, 2017

The SEC announced an emergency asset freeze and temporary restraining order against Chicago-based investment advisor David H. Glick and his unregistered financial management company Financial Management Strategies (FMS) accused of scamming elderly investors out of millions of dollars.  The SEC alleges that Glick and FMS provided clients with false account statements to hide Glick’s use of client funds to pay personal and business expenses, purchase a Mercedes-Benz, and pay of loans and debts.  According to the SEC’s complaint, Glick was barred by FINRA in 2014 and had his Certified Financial Planner designation and Certified Public Accountant license revoked for conduct related to the SEC’s charges. SEC

Tagged in: Regulatory Violations, Securities Fraud,