Page 2 - Client Funds News Today

You might think of wealth managers as stock-pickers who build an investment portfolio and occasionally monitor its performance – which is why many may question whether it’s actually worth paying for.

A former Atlanta real estate lawyer pled guilty to stealing millions of dollars from his clients through a scheme to defraud, the U.S. Department of Justice announced Tuesday.

The public defender argued that the defense needed more time to "investigate the case, prepare for trial and negotiate with the government."

Therese Larussa covertly recorded the client’s card information, according to the stipulation. She worked on his divorce case.

However, bank guarantees issued to stock brokers and clearing members form a miniscule 2.5-3% of the total bank guarantees issued by banks.

Testimony, alex admits a long-time addiction to opioids, that he stole client funds, but denies being overly concerned about getting caught prior to the murders >> what kind of cases did you normally do? >> reporter: on cross-examination, prosecutors began by pressing murdaugh on the fraud cases, where he admits he stole money from his clients and lied to them and prosecutors suggesting all the stolen money wasnt going to fund his pill addiction. >> you were generating millions of dollars in fee...

Was doing it and i had that document prepared, handwritten in the neatest handwriting that i could make because a secretary other than mine, a paralegal other than mine was going to be the person who was going to put those -- that financial information into the final document. and thats the document that mark ball talked about that he found on my desk whenever it was that he found it. so that is what was going to be, if necessary, what was going to be used thursday. >> the jury has heard about t...

Charges against paul, i was so -- i kept everything very close in the civil case. it was danny and his office that was doing it. i had that document prepared, handwritten in the neatest handwriting i could make because a secretary other than mine or a parallel other than mine was going to put that information into the final document. thats the document mark ball talked about he found on my desk. thats what was going to be, if necessary, used thursday. >> jurys heard about testimony of you steali...

0 was doing it and i had that document prepared, handwritten in the neatest handwriting that i could make because a secretary other than mine, a paralegal other than mine was going to be the person who was going to put those -- that financial information into the final document. and thats the document that mark ball talked about that he found on my desk whenever it was that he found it. so that is what was going to be, if necessary, what was going to be used thursday. >> the jury has heard about...

0 talked about that he found later in my office. and it was tight -- it was handwritten, ready to be tightened up by, you know -- because of the charges against paw, i kept everything close in the civil case, it was danny in his office that was doing it, and i had that document prepared, handwritten in the neatest handwriting that i could make because a secretary other than mine, a paralegal other than mine was going to be the person who was going to put that financial information into the final...