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Law firm seeks more than $470K from ex-client ‘Money Guy’ Rousseaux
Former investment adviser Philip Rousseaux is embroiled in another legal battle, this time with his attorneys, who claim he spent more than a year avoiding being served with their lawsuit seeking to recover more than $470,000 in unpaid fees. Rousseaux was the owner of Everest Wealth Management, a Towson-based firm known for its popular “Money […]
‘Money Guy’ Rousseaux loses appeal of sanctions
Defrocked investment adviser and former infomercial star Philip Rousseaux and his Towson firms will remain out of business. Maryland’s second-highest court ruled Thursday that the state securities commissioner acted within her authority in permanently revoking Rousseaux’s registration and fining him $255,000 after concluding he had committed or participated in more than 1,000 securities violat[...]
‘Money Guys’ Rousseaux loses appeal of AG sanctions
A Baltimore judge has affirmed the revocation of Everest Wealth Management owner Philip Rousseaux’s investment adviser registration, denying his appeal. The Towson-based firm known for its popular “Money Guys” infomercials was previously barred from doing business in Maryland by the Maryland Office of the Attorney General based on allegations of fraud and securities law violation[...]
‘Money Guys’ fight Maryland Insurance Administration’s revocation order
The Maryland Insurance Administration wants to put investment adviser Philip Rousseaux out of business despite the absence of any customer complaints against him or his company for the past dozen years, his attorney said in explaining to a hearing examiner Tuesday why MIA’s bid to strip the “Money Guys” infomercial star his insurance license should be rejected.
‘Money Guys’ challenge to securities proceedings rejected
A trial judge on Thursday rejected as premature investment adviser Philip Rousseaux’s constitutional challenge to the Maryland securities commissioner’s administrative proceeding that seeks to revoke the “Money Guys” infomercial star’s license for having allegedly misled clients and falsified forms.
Insurance regulators want to revoke license, fine ‘Money Guy’
Maryland insurance regulators want to revoke the license of investment adviser Philippe Rousseaux, arguing he and one of his companies, Everest Wealth Management Inc., should pay $62,400 in administrative penalties for improper business practices. They also want certain videos of Rousseaux giving investment advice removed from YouTube. In a preliminary order issued Wednesday, the Maryland [&hellip[...]
‘Money Guy’ Rousseaux calls investigation unconstitutional
In her zeal to put television’s “Money Guys” out of business, Maryland’s securities commissioner has launched an administrative proceeding “devoid of due process” that accuses investment adviser and infomercial star Philip Rousseaux and his companies of having misled clients and falsified forms, Rousseax said in papers filed Tuesday in Baltimore City Circuit Court.
