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due to mismanagement and not even know it.

Multiple broker defendants emerge in large securities fraud case

Just how many such cases are out there, waiting to be spotlighted for what they centrally reveal?

And that is this: the seemingly never-ending endeavors of unscrupulous securities brokers intent on making huge profits off the backs of unsuspecting investors who are relying upon their integrity and professionalism.

Sadly, it doesn't take a securities law blog author much time at all to find a story like the following, any day of the week. The tale -- unremarkable, actually, and squarely representative of many other fraud-related schemes that routinely surface -- is passed along to readers for the instructive value it reasonably has for investors who tend to forgo their due diligence and simply place their trust in advisers who promise to act in their best interests.

Some do, of course.

But, sadly, some don't, as evidenced by a recent media piece spotlighting the unlawful behavior of nine broker defendants who systematically and in egregiously bad faith ripped off high numbers of individuals who had entrusted money to them.

Reportedly, "hundreds of clients were duped," to the collective tune of about $131 million.

The ruse was simple and avarice-driven in a most elemental way, with the brokers being paid kickbacks to tout a certain energy company's stock and buy it in large volume for investors.

Those investors were led to believe that the company was viable, prospering and a good investment target.

In truth, it was anything but that, with its stock price and volume artificially controlled "to create the appearance of genuine trading volume and interest in the stock."

As with many such schemes, this one eventually caved in after it was discovered that the hyped company had "essentially no business operations and little revenue."

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