A FINRA arbitration panel entered an award against Golden Beneficial Securities Corporation in the amount of almost $2.5 million based upon its failure to supervise Joel David Salinas, one of its employees. Joel David Salinas allegedly invested $3 million of customer money into a supposed corporate bond fund named the JDFG Fixed Income Fund. In reality, the money was being collected to fuel a $50 million Ponzi scheme. Golden Beneficial Securities Corporation's registration was cancelled this past January. Claims continue to mount against Salinas' estate and his former firm.
If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.
To read more, please visit: http://www.investmentnews.com/article/20140331/FREE/140339984#