David Lerner Associates effectively robbed 200 people and paid NO FINE for doing so. Here’s why.
TL;DR David Lerner Associates (DLA), a Long Island brokerage firm, pushed two high-risk, illiquid oil-and-gas investment products onto 200 customers, including retirees in their 80s and 90s, between 2015 and 2019. DLA sold $593 million ($593 million, more than most…