Financial adviser arrested for allegations of securities fraud


Every day in New York and throughout the United States and its territories, people place their trust in financial advisers. They do so in the hopes that their investments will provide them profit and security.

While many people in the financial industry do their jobs as instructed and adhere to the law while focusing on the best interests of their clients, others push the limits of legality or break the law outright. Those who have been victimized by an unscrupulous individual or company should be aware of their rights to seek compensation.

Man arrested for stealing around $1.2 million from clients

A 47-year-old Indiana man was arrested after being alleged to have stolen approximately $1.2 million from his financial clients. Working as a financial adviser, the man was charged with various crimes, including money laundering, wire and securities fraud.

The U.S. Attorney says that the investors gave the man their money and, rather than invest it as he was supposed to, he used his company to commit fraud by misrepresenting and making untrue assertions. He took the money for himself and funded his own lifestyle. A conviction could result in 25 years in prison.

Pursuing compensation after financial misdeeds by an adviser

Although there might be some level of satisfaction that a person who committed financial wrongdoing at the expense of clients is facing serious jail time, it is still important for victims to consider strategies to recover some or all they have lost. Getting that money back can be a vital part of a person’s future.

Unfortunately, the financial field is so rife with people willing to take advantage of others by misrepresenting facts, causing significant losses through unapproved risk-taking, misleading investors about initial public offerings (IPOs), using Ponzi schemes and other underhanded tactics.