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Broker charged with churning account of elderly, blind widow

The recent media report on the alleged misdeeds of a broker might establish a new low. The Financial Industry Regulatory Authority Inc. accuses a broker of putting a "deceptive and fraudulent scheme" in which he churned the account of an elderly, blind widow.The churning scheme generated commissions of $248,000 for the broker over a 3-year period, according to the report. The 77-year-old widow suffered net losses of $184,000, Finra says.

Securities fraud, teddy bears and hockey

The Lexington Herald Leader recently reported that a man sentenced to a decade in prison for securities fraud has had his sentence cut in half. Sixty-nine-year-old Paul Greenwood is best known for three things: his crimes, his fascination with teddy bears and the time he spent as part-owner of the New York Islanders hockey team.

Another fall from grace

There are interesting parallels in the stories of Lance Armstrong and Karen Bruton. Armstrong was the inspirational cycling icon who beat cancer and repeatedly won the Tour de France, the sport's toughest race. Bruton's exploits were financial rather than athletic. She was heralded as "Supertrader," an options trader and hedge fund manager who made millions of dollars and donated profits to a charity dedicated to fighting poverty around the world.

Justice after death

His lifeless body floated in the cold, dark water of the Hudson River. A 16-page suicide note said he could no longer bear "the pure emotional weight of the guilt" he felt. It gave details of his $5 million Ponzi scheme that had ensnared more than two dozen people, including his own mother.