we posted a blog on former LPL Financial broker Charles Caleb Fackrell, who was facing
charges amidst allegations of him
selling sham investments to clients in a Ponzi scheme.
Earlier this week, Fackrell pleaded guilty to securities fraud charges
for allegedly operating the $1.4 million Ponzi scheme. The alleged violations
began in about May of 2012 and continued until December 2014. According
to court documents, Fackrell allegedly solicited at least 20 clients,
using his position of trust to sell securities in various entities that
he owned and controlled, including “Robin Hood, LLC,” “Robinhood
LLC,” “Robinhood Holdings, LLC,” and “Robin Hood
Holdings, LLC.” He allegedly told investors that the entities were
safe and that they would receive returns of roughly 5-7%. Fackrell was
accused of using the investors’ money on his own expenses instead
of investing it as promised.
Court records also show that Fackrell allegedly requested that a third
party destroy documents and a computer that were associated with the supposed
A sentencing date has not yet been set, but he faces up to 20 years in
prison and a fine of $5 million.
Meyer Wilson is still investigating these allegations and we want to help
victims of the alleged Ponzi scheme. If you invested with former LPL Financial
broker Charles Caleb Fackrell, call our securities fraud lawyers today.
We may be able to help you recover your losses.
free consultations so you can confidentially discuss your options.