The investigation appears to have been started following an arbitration claim from disgruntled investor Florence Platzer, who invested more than $672,000 in Global Crossing and one of its affiliates. Ms Platzer has accused Ms Brody of a conflict of interest in promoting Global Crossing shares.
Ms Platzer, 67, is believed to have lost more than $122,000 investing in Global Crossing and Asia Global Crossing.
Global, which was trading at a peak of $61, is now a penny stock and has filed for Chapter 11 bankruptcy protection.
None of the parties involved in the claim have commented publicly on the case.
Enquiry Launched Into Merrill Broker
The Wall Street Journal reports that The New York Stock Exchange (NYSE) has launched an investigation into whether Susan Brody, a Merrill Broker and sister of Global Crossing Chairman Gary Winnock, used her connections with her brother to pitch Global shares to clients.
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