September 4, 1998
Former North Carolina Investment Advisor Barred From Serving Employee Benefit Plans
Archived News Release — Caution: Information may be out of date.
The U. S. Department of Labor has obtained a judgment against a former investment advisor for executing speculative securities investments and “churning” of the account of the Bradford Sales Co. employee stock ownership plan (ESOP) located in Charlotte, NC. The defendant George E. Brooks was permanently barred from serving as a plan fiduciary to any employer-sponsored plans under the aegis of the Employee Retirement Income Security Act (ERISA).