According to a a Reuters news report:
Bambi Holzer, a Beverly Hills, California-based broker known both for her frequent television appearances and the dozens of complaints against her by one-time clients, was informed on July 18 about the investigation, according to FINRA’s website.
FINRA, the industry body that regulates brokers, initiated the investigation, according to the disclosure. Holzer did not immediately respond to a request for comment. Former clients of Holzer have lodged as many as 50 complaints against her over the past decade, and some of the ex-clients have won more than a total of $11 million in fines and compensatory judgments against her, her broker registration shows.
Hollywood producer Ken Kragen sued Holzer and won after she convinced him to put his funds into what prosecutors charged was an oil-and-gas Ponzi scheme and into an insurance annuity from which his money could not be extracted until he died. Louis-Dreyfus also sued Holzer after the broker convinced her to put money in the same type of insurance annuity.