According to an article in the StarTribune, Darren McFadden, Dallas Cowboy running back , has filed a lawsuit against Ameriprise Financial, alleging that his broker, Michael Eugene Vick, Jr. , stole or lost $15 million from his brokerage account.

The suit alleges that Vick made more than 1,000 cash withdrawals from McFadden’s account, totaling over $8 million and that in January of 2010 Ameriprise Financial conducted an internal investigation of the broker’s handling of McFadden’s  account, but did not notify him that Vick had been placed on heightened supervision.

Ameriprise has had more than its share of regulatory issues. FINRA records disclose 69 regulatory events and 99 customer arbitrations. In 10/2016 they were fined $850,000 by FINRA for supervisory failures that resulted in theft by wire transfer of over $370,000 by a broker.

If you have questions about an account handled by Ameriprise Financial,  contact us to discuss your legal options.