Financial advisor Ric Edelman and his wife Jean offered a donation of $25 million to the XPRIZE competition focused on Alzheimer’s. At the XPRIZE Visioneers Summit, Alzheimer’s was one of five proposals considered by a group of 250 corporate and government leaders. The Edelmans’ proposed donation would support development in innovative approaches to combat Alzheimer’s. “We have seen so many of our clients’ lives devastated by the physical, emotional and financial impact of Alzheimer’s,” Jean Edelman said, in a statement. “Now it's time for all of us to work together and crack the code on Alzheimer’s, so every retiree—today and in the future—can enjoy true health and happiness, free of this terrible disease.”
Bernard Parker, a former Pittsburgh-area financial advisor for Edward Jones, was sentenced to 87 months in jail and ordered to repay $1.2 million by a federal judge last week. Parker, 57, also ran Parker Financial Services, through which he defrauded investors by selling them a variety of bogus investments and keeping the money for himself, according to the Pittsburgh Post-Gazette. The victims included an 80-year-old and 90-year-old, through which he diverted funds to pay off his house and car, his father-in-law’s medical bills, remodeling his home and make payments to earlier investors in his scheme. “I am totally responsible,” Parker told the judge. “These people liked me and trusted me and I should have respected that.”
Good advice is hard to find, at least if you’re Johnny Depp. The Los Angeles Times reports that Depp, who is already embroiled in a high-profile legal battle with his financial advisors, has now sued his attorneys as well. Depp’s complaint alleges that Jacob Bloom and his firm “engaged in self-dealing and pursued and undertook transactions in the face of undisclosed conflicts of interest for their own financial benefit over that of their clients,” as well as accusing them of knowingly failing to disclose “years of misconduct” on the part of Depp’s business managers.
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