Sun coverage: Probe of trades at FBW -- baltimoresun.com

June 20, 2008

Unlikely ties helped to damage Ferris

The troubles for Ferris, Baker Watts Inc. started in this city 20 years ago with an unlikely friendship.

April 11, 2008

Ferris in talks on SEC penalty

Ferris, Baker Watts is negotiating a settlement with the Securities and Exchange Commission that could result in a civil fine of $1.2 million or more and lead to additional penalties against current and former employees, according to regulatory documents filed yesterday.

April 11, 2008

Jay Hancock: Ferris missed a chance to act

David A. Dadante was making questionable stock trades almost immediately after Ferris Baker Watts took him on as a client in early 2003.

January 26, 2008

Ferris offers victims millions

Baltimore brokerage Ferris Baker Watts Inc. has offered a settlement worth more than $16 million to victims of an investment fraud that was aided by a former broker at the firm, according to court documents filed this week.

September 12, 2007

Jay Hancock: Soul-searching at Ferris

So Stifel Financial and a few other companies are interested in buying Ferris Baker Watts. No big news there. Ferris has been getting buyout feelers for years.

June 5, 2007

Ferris' Akers third to go

Louis Akers Jr., vice chairman and former chief executive of Ferris, Baker Watts Inc., has taken early retirement from the Baltimore brokerage, making him the highest-ranking executive to leave since federal investigators began probing the company's trades on behalf of a former customer accused of fraud.

April 29, 2007

Trades raised flags at Ferris

Ferris Baker Watts employees expressed concerns to top executives in 2003 about an Ohio fund manager's stock trades, yet the firm let him keep trading for much of the next year and maintained the account until the fund was shut down amid fraud allegations in late 2005, according to documents and interviews.

March 21, 2007

3rd Ferris employee returning from leave

Ferris Baker Watts said yesterday that its director of retail sales will return to work tomorrow while the brokerage and federal officials continue to probe an alleged stock manipulation scheme carried out by a former client.

March 16, 2007

Manager of fund accused in scheme

An Ohio fund manager used brokerage accounts at Baltimore's Ferris Baker Watts to engage in a stock manipulation scheme, borrowing millions of dollars from the firm to finance trades even as his activities raised concerns, according to a criminal complaint filed yesterday.

March 14, 2007

2 Ferris traders to return amid probe

Ferris Baker Watts said yesterday that two traders will be allowed to return to work while the brokerage and federal officials probe trades on behalf of a former client accused of stealing millions of dollars from investors.

March 2, 2007

Executives at brokerage leave amid investigation

Ferris Baker Watts, the century-old investment brokerage with deep Baltimore roots, said yesterday that six executives and traders have resigned or taken temporary leave since federal officials and outside counsel began investigating the firm's trades for a former client accused of stealing millions of dollars.

February 13, 2007

2 Ferris officials on leave

Two Ferris Baker Watts executives have taken voluntary paid leave while federal regulators probe the firm's trades on behalf of a client who allegedly bilked investors out of tens of millions of dollars.


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Sun coverage: Probe of trades at FBW

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