The June enforcement case against Success Trade focused on $19.4 million of promissory notes issued by the firm's parent company, Success Trade Inc, to investors between 2009 and 2013. Ahmed and the brokerage misrepresented or omitted material facts that would have revealed the company's dire financial condition, according to Finra.

Young's investments also included notes in an alarm system company that turned out to be in poor financial shape, said Jeffrey Sonn, whose law firm in Fort Lauderdale, Fla., handled the arbitration.

"We're very pleased the arbitrator awarded punitive damages because, at its heart, this was a scam of our client and many other professional athletes," Sonn said. "These notes never should have been offered to anyone."

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