Tuesday 20 March 2012

Army killer a known conman

So it turns out that mass killer Staff Sgt Robert Scott Bales, who shot 16 men, women and children dead in Panjwai last week, is a conman who "engaged in fraud, breach of fiduciary duty, churning, unauthorised trading and unsuitable investments." America's Financial Industry Regulatory Authority found that while Bales had been working as a stockbroker in 2003 he had taken a client's stock to sell, but had not handed over any money. Here is a link to the FINRA report on Bales.
Following arbitration Bales was ordered to pay $637,000 in compensation to the elderly couple he defrauded, a similar amount in punitive damages and $216,000 in legal fees. Instead of paying up, Bales - who had been banned from working as a broker - joined the Army and 'disappeared', declining even to show up at the disciplinary hearing that barred him from associating with "any NASD member in any capacity". Doubtless he "can't remember" that incident either.

No comments: