INVESTMENT FRAUD AND EMBEZZLEMENT IN THE NEWS

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In order for Key Persons to be included on a Capital Shield® insurance policy, advisors and managers must be currently registered with the SEC and/or FINRA, bank chartered trust employees must have a qualified designation, and all individuals must meet underwriting standards.

1001, 2018

Financial advisor sentenced to 7 years for stealing $900k from client

January 10th, 2018|

Financial advisor sentenced to 7 years for stealing $900k from client MOUNT HOLLY — Burlington County Prosecutor Scott Coffina announced that a Moorestown- based financial advisor was sentenced today to seven years in New Jersey state prison [...]

1412, 2017

Financial Advisor Roger Kroeger Arrested for Embezzlement

December 14th, 2017|

Financial Advisor Roger Kroeger Arrested for Embezzlement He allegedly stole almost $300,000 from an elderly client Earlier this month, Roger Kroeger was arrested in Broward County on several charges after a former client of his [...]

510, 2017

Mercer County ‘investment adviser’ will be sentenced for fraud

October 5th, 2017|

Mercer County 'investment adviser' will be sentenced for fraud PITTSBURGH - A former investment adviser from Mercer County awaits sentencing in federal court for creating a phony company to cheat investors. Jeffrey T. Lewis, 48, [...]

1008, 2017

Hampton Roads financial adviser charged with criminal fraud

August 10th, 2017|

Hampton Roads financial adviser charged with criminal fraud A Hampton Roads financial adviser is expected to plead guilty to two federal criminal counts for his role in running a fraudulent investment scheme that led investors [...]

1604, 2015

Ex-JPMorgan adviser charged in $20M fraud

April 16th, 2015|

Ex-JPMorgan adviser charged in $20M fraud NEW YORK – A former JPMorgan Chase investment adviser was arrested Thursday on charges he stole $20 million from customers and spent the funds on unprofitable trading and other [...]

1911, 2009

Adviser sentenced in Cisneros fraud case

November 19th, 2009|

Adviser sentenced in Cisneros fraud case A financial adviser who stole $481,000 from former San Antonio Mayor Henry Cisneros was sentenced Thursday to 41 months in federal prison and ordered to pay restitution. A financial [...]

803, 2013

Former Merrill Lynch Financial Advisor Sentenced For Embezzlement

March 8th, 2013|

Former Merrill Lynch Financial Advisor Sentenced For Embezzlement TALLAHASSEE, FL B James Ryan Lanier, 33, was sentenced to 106 months in federal prison for embezzling more than $800,000 from Merrill Lynch clients. The sentence was [...]

2008, 2018

Ex-Wells Fargo FA Faces Embezzlement Charges

August 20th, 2018|

Ex-Wells Fargo FA Faces Embezzlement Charges A former Wells Fargo financial advisor in Michigan is facing a felony charge over alleged embezzlement, mlive.com writes. David Homan was arraigned in Bay County District Court on one [...]

2304, 2018

Barred Ameriprise advisor arrested in alleged $2M fraud scheme

April 23rd, 2018|

Barred Ameriprise advisor arrested in alleged $2M fraud scheme A former Ameriprise financial advisor was arrested by FBI agents last week for allegedly embezzling at least $2 million from her clients, according to federal prosecutors [...]

211, 2018

SEC Charges Investment Adviser With Running $3.9 Million Fraud

November 2nd, 2018|

SEC Charges Investment Adviser With Running $3.9 Million Fraud Washington D.C., Nov. 2, 2018 — The Securities and Exchange Commission today charged a former registered representative and investment adviser in Altoona, Pennsylvania, with operating a [...]

2410, 2018

Remember Bernie Madoff? Big time financial fraud is back

October 24th, 2018|

Remember Bernie Madoff? Big time financial fraud is back Ten years ago this December, Bernard Madoff, known as a "broker's broker" to many on Wall Street, told his sons that his business was one big, [...]

1408, 2018

Financial advisor charged with embezzling

August 14th, 2018|

Financial advisor charged with embezzling ROCHESTER HILLS — Federal officials have charged a financial advisor with UBS Financial Services with embezzling more than $3.7 million from his clients. John MacColl, 65, from Rochester Hills, was [...]

2607, 2018

SEC charges advisor with $19M fraud in commissions scheme

July 26th, 2018|

SEC charges advisor with $19M fraud in commissions scheme A Connecticut investment advisor is facing fraud and other charges for allegedly engaging in a scheme to steer $19 million of client assets into unsuitable, high-risk [...]

2303, 2018

Jackson Financial Adviser Arraigned On Embezzlement Charges

March 23rd, 2018|

Jackson Financial Adviser Arraigned On Embezzlement Charges A former financial adviser has been arrested in Michigan in connection with the theft of more than $700,000 from now-deceased clients whose investments he managed. MLive.com reports that [...]

1309, 2017

Financial Advisor to Mike Tyson Sentenced to Prison

September 13th, 2017|

Financial Advisor to Mike Tyson Sentenced to Prison Brian Ourand, formerly of Live Nation-owned financial advisory firm SFX Financial Advisory Management Enterprises, was sentenced to 33 months in prison and ordered to repay $1 million [...]

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