By Lynnley Browning – June 9, 2021 Read the article on financialplanning.com So much for trying to make amends with family. A multimillion-dollar battle has flared up again between a wealthy Florida grandmother and her two grandsons whom she accused of mishandling her money while working at J.P. Morgan Securities, a new court filing shows. […]
By Suzanne Woolley – Feb 17, 2021 Read the article on Bloomberg.com (Bloomberg) — You don’t have to be as rich as Brooke Astor for money to cause problems in the family. Whether it’s fights over inheritance or simply disagreements over how money has been invested, the pain and anger tends to be magnified when relatives […]
March 18, 2021 – By Pam Krueger Read the article on MarketWatch.com Regulations and reforms to protect investors aren’t working and need repair. This report misidentified the brokerage firm involved in the arbitration settlement. The story has been corrected. A recent story about a 94-year old woman whose grandsons criminally mismanaged her wealth is just […]
By Lynnley Browning – April 16, 2021 Read the article on financial planning.com The wealthy Florida grandmother who accused her two grandsons of mishandling her money while working at JPMorgan Chase apparently has a soft heart. Beverley Schottenstein, 94, has waged high-profile battles with the Wall Street bank and her financial advisors there — her […]
February 12, 2021 • Karen Demasters Read the article on fa-mag.com The matriarch of the billionaire Schottenstein family has been awarded $19 million by the Financial Industry Regulatory Authority for illegal trading in her accounts by J.P. Morgan Securities and two of her grandsons, Finra announced Feb. 5. The compensation is to be paid to […]
The Columbus Dispatch Archives – Feb 18, 2021 Read the full article on dispatch.com As drama unfolds around the handling of Beverly Schottenstein’s fortune in Florida, The Dispatch is sharing some of its historical coverage of the Schottenstein family. The family that once held stakes in retail, real estate, construction businesses and more held power […]
February 9, 2021 – By Ian Wenik Read the article on citywireusa.com A panel of arbitrators found that Beverley Schottenstein’s grandsons made unauthorized purchases and sales in her account. A panel of Financial Industry Regulatory Authority (Finra) arbitrators has ordered JP Morgan and two of its brokers to pay a roughly $19m financial penalty after […]
By Ian Wenik – April 14, 2021 Read the article on citywiresusa.com The Financial Industry Regulatory Authority (Finra) has permanently banned a former JP Morgan broker after he was accused of making unauthorized purchases and sales of securities in his own grandmother’s account. Evan Schottenstein agreed to the ban after he refused to testify in […]
by Jake Martin and Mason Braswell – March 9, 2021 Read the article on advisor hub.com In a claim zeroing in on the fairness of virtual hearings, a pair of former J.P. Morgan Securities brokers have asked a court to nullify a high profile $19 million award issued last month by a Financial Industry Regulatory […]
February 10, 2021, By Lynnley Browning Read the article on financial-planning.com A wealthy grandmother won a $19 million arbitration award against J.P. Morgan Securities and two former brokers — her grandsons — over alleged unauthorized trading in her accounts. The ruling came 18 months and 43 hearing sessions after retail matriarch Beverley Schottenstein filed claims […]