Neuberger Berman
Francis L. Fraenkel Theft of $3 million, Violation U and other violations with margin account, Illegal Hedging of client's money, refusal to sell securities resulting in severe losses
I was a client of Neuberger Berman/Lehman for several years. Francis Fraenkel, their Managing Director, was my financial manager. In March he expressed open intent to lose $1 Million. During that time my portfolio was consistently diminishing in value, $3 million loss. He made $4 million worth of ...