Madoff Accountants Gets Light Sentence
David Kugel, who helped create fake securities trades as part of the $17.5 billion Ponzi scheme, received a lighter sentence after helping the prosecution.
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Jacob Cooper, founder of San Diego-based RIA Total Wealth Management, built his business to over $100 million in assets and more than 600 clients. Last week, a court-appointed receiver in a case brought by the SEC determined that more than $44 million of those assets are likely lost.
Cited for due-diligence failure and not mentioning millions in fees received.
Why a Madoff -type scandal isn't likely in the fund world.
If Wall Street were really interested in having a total commitment to the long-term interests of its clients, it would embrace a fiduciary standard, but it does just the opposite.
It's all about low costs, a sensible strategy, and sound ethics.