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. Internet
I was a client of Neuberger Berman/Lehman for several years. Francis Fraenkel, their Managing Director, was my financial manager.
In March of 2008 he expressed open intent to lose $1 Million.
During that time (2007-2010) my portfolio was consistently diminishing in value, $3 million loss. He made $4 million worth of transactions per year. He kept a large amount of cash in my account, making serious violations. He traded large amounts of securities without depositing the necessary money into my account. He engaged in free riding schemes using my money.
My other account at Neuberger Berman with Ridge Outsourcing Solutions only made $4,225 in 2009.
Francis Fraenkel refused to explain any violations. Instead we started being subjected to Illegal Surveillance, Intimidation, Violent Threats, Conspiracy and Physical Abuse around the globe.