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Richard Kallman is suing UBS and wealth advisor Ira Walker for $10 million, alleging Walker had an affair with his wife and conspired to mismanage a family trust during their divorce. Kallman claims Walker's actions caused him significant emotional distress and financial loss, while UBS maintains its commitment to client interests. The case highlights ongoing issues in the financial industry regarding personal relationships between advisors and clients.
Richard Kallman is suing UBS and his wife Kineret's advisor, Ira Walker, alleging they conspired to mismanage a family trust during his divorce, resulting in significant financial loss. Kallman claims Walker had an affair with Kineret and improperly authorized disbursements without his knowledge. UBS is seeking to move the case to arbitration, while Kallman argues that Walker's actions breached fiduciary duties and created conflicts of interest.
Richard Kallman, amid a messy divorce after 26 years of marriage, faced an unexpected demand for $9 million from his couple's new wealth manager at UBS, Ira Walker, during a separation meeting. Kallman has since filed allegations in New York state court against Walker, claiming he has caused significant turmoil in his life.
Richard Kallman alleges that his wealth manager, Ira Walker of UBS, had an affair with his wife, Kineret, and conspired to misappropriate funds from their family trust without his knowledge. Kallman is seeking $10 million in damages, while UBS maintains its commitment to client interests and has sought arbitration. This case highlights the lack of regulatory boundaries for personal relationships between financial advisers and clients, contrasting with stricter rules in fields like law and healthcare.
Ira Walker
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wealth advisor accused of affair and trust fund manipulation in divorce case
15:40 19.03.2025
wealth manager embroiled in divorce scandal over trust fund mismanagement
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wealth adviser accused of exploiting client during messy divorce proceedings
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wealth adviser affair leads to messy divorce and legal battle
United States Dollar
Morgan Stanley
UBS Group AG
JPMorgan Chase & Co.
USA
Richard Kallman
Ira Walker
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11:30 19.03.2025
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