Violation Tracker Individual Record
Company:
Yankee Financial Group, Inc.
Penalty:
$3,800,000
Year:
2005
Date:
January 13, 2005
Offense Group:
financial offenses
Primary Offense:
investor protection violation
Violation Description:
An NASD Hearing Panel expelled Yankee Financial Group, Inc. of Melville, NY for engaging in fraudulent, high-pressure, boiler-room operations. The panel ordered the firm and its president to pay 10 customers more than $3.8 million in restitution, plus interest and costs.
Level of Government:
federal
Action Type:
agency action
Agency:
Financial Industry Regulatory Authority
Civil or Criminal Case:
civil
Source of Data:
NASD Hearing Panel Expels Yankee Financial for Fraud, Orders Payment of More Than $3.8 Million in Restitution, PR Newswire, January 13, 2005 (via Nexis).
Notes:
FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
