Former broker Mark Preston French (CRD# 2951572) pleaded guilty today to
one count of wire fraud in U.S. District Court in Columbus, Ohio. The
case stems from allegations that French was involved in an investment
fraud scheme that led to an elderly woman investing more than $1.3 million.
According to the accusations, French allegedly advised a client of his
to open a joint bank account using the client’s name and his name.
This was so he could invest money in gold and silver. He allegedly informed
the client to keep the arrangement secret and to not disclose information
about the account. The indictment claims that French allegedly used the
$1.3+ million to purchase the silver and gold and placed $95,000 in his
own bank account.
French was employed by Investors Security Company from 2005 to 2012, and
by Securities America for just one month following his departure from
Investors Security Company in December of 2012.
French faces a possible sentence of 20 years in prison, along with fines
If you invested money with former broker Mark Preston French, call Meyer
Wilson for a
free consultation today. Our securities fraud attorneys may be able to help you recover
losses after investor misconduct.