Keith Epstein, formerly an investment advisor in Farmington Hills, has
now been sentenced to eight years in prison for an alleged
Ponzi scheme. Earlier this year, Epstein had pleaded guilty to bank fraud in the case.
According to court documents, Epstein was accused of choosing many of
his victims from among the elderly. He allegedly gained his investors'
trust by giving gifts, giving to charity in investors' names, and
attending clients' birthday parties and family weddings.
Unfortunately, many of the investors chose to liquidate their legitimate
investments in favor of Epstein's purportedly safer offers. Epstein
allegedly used a large portion of investors' cash to pursue a lifestyle
that involved gambling, strippers, and adult entertainment, and used an
additional amount to pay off prior investors.
FINRA lawyers with Meyer Wilson represent victims of securities fraud in
stockbroker mediation, arbitration, and litigation nationwide. We are proud to have recovered
millions of dollars in losses for our clients, and look forward to speaking with you.
If you'd like to learn more about protecting yourself from investment
fraud, request your free copy of our book Five Signs of Investment Fraud
...And What to Do it it's Happened to You.