$8.8 million paid to clients of former financial adviser
Tuesday, August 25, 2009 : PermalinkThe Tribune – The more than $8.8 million judgment awarded to clients of Jeffrey Forrest has been paid, six months after a financial regulatory agency determined that the former San Luis Obispo investment adviser had misrepresented a risky hedge fund as being safe.
Forrest, who owned WealthWise LLC, and Associated Securities, an El Segundo-based broker-dealer with which his firm had been registered to sell securities, abandoned their appeal of the judgment in federal court, according to Phil Aidikoff, a Beverly Hills attorney representing the group of WealthWise investors.
Tags: beverly hills, broker-dealer, el segundo, financial adviser, hedge fund, investment-adviser, investors, judgment, regulatory agency, san luis obispo, six months
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