Raymond Fazzi

A former New York City-area broker has pleaded guilty to scamming dozens of investors out of nearly $800,000 as a social media influencer who falsely described himself as a Wall Street veteran and a “beacon of knowledge,” authorities announced. Kenneth Thom, a resident of Westfield, N.J., who lived in the Bronx during the time of his fraud, made the plea after being charged with securities and investment fraud in August by the U.S. Attorney's Office for the Southern District of New York.

A yearlong legal battle between JPMorgan Chase and a group of former First Republic Bank advisors is showing that the dust has yet to settle in the wake of First Republic's ugly 2023 implosion.

State and local government retirement systems successfully navigated the global financial crisis from 2007 to 2009 and were able to attain pre-recession asset levels within about six years, a new report says. The research by the National Institute on Retirement Security (NIRS) also found that these pension plans adopted strategies in reaction to the Great Recession that allowed them to ensure long-term resilience.