John C. Maccoll – UBS Advisor – Charged with $4 Million Fraud Scheme

Securities Fraud Investigation – John C. Maccoll – UBS Financial Services According to a press announcement yesterday, the Securities and Exchange Commission has charged former financial advisor John C. Maccoll with defrauding his brokerage customers out of nearly $4 million in a long-running investment scheme. According to the SEC’s complaint, Maccoll, who was affiliated with UBS Financial Services in Birmingham, Michigan, allegedly used high pressure sales tactics to solicit at least 15 of his retail brokerage customers to invest in what he described as a highly-sought-after private fund investment. Most of the injured customers were reportedly elderly and retired and invested through their retirement accounts. Maccoll allegedly told his customers that the purported fund investment would allow them to diversify their portfolios, receive annual investment returns as high as 20%, and give them investment growth potential that was better than the growth they…

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