alt Hacker NewsClarify? I don't understand how whether or not I pay someone to manage my money makes a difference as to whether what they did was commit fraud. People paid Bernie Madoff to manage their money and early investors got promised returns but he still went to jail because he was running an illegal ponzi scheme.
They have far greater latitude to move it and do what they deem smartest with it. And take fees for themselves. And put you in deals that benefits other clients they prefer.
And on and on. And on.
Dumping, swapping, bag holding, fee based investments that are crap. All legal.