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: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.