Bernadette Waisome invested $100,000 of her late husband’s $250,000 life insurance payout in a mortgage-backed security a year ago. In an arbitration claim, she claims her money evaporated in a high-risk leveraged transaction even before she sent a check to the brokers, and she blames them for the loss.

Waisome contends her brokers inappropriately put her money into volatile collateralized mortgage obligations, or CMOs, without fully explaining the risks and defrauded her with falsified records as the investment quickly became worthless.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]