Broker James Unger was recently charged in federal court in the Northern
District of Ohio with five counts of filing false tax returns and two
counts of wire fraud. According to prosecutors, after securing a durable
power of attorney in 2007 which enabled him to control a client's
financial affairs, he allegedly embezzled money for his own enrichment,
funded his daughter’s college expenses, and paid for his own personal expenses.
Unger also allegedly orchestrated an international casino project scam
in which he convinced a client to invest in the project with a promise
of a 15% annual rate of return. Unfortunately for the client, Unger didn't
use the investment money for the casino project, but instead allegedly
spent his client's money for his own personal gain. When his client
attempted to liquidate her investment in the project, the funds were gone.
Unger was also recently barred from the securities industry for allegedly
embezzling customer funds for his own personal enrichment and to pay another
client. According to
records from FINRA’s BrokerCheck, Unger worked at several financial institutions throughout his career.
Most recently, he was registered with a firm in Cleveland, Ohio called
Financial American Securities, Inc. It was during his time at Financial
America Securities that three of his customers stepped forward with disputes
Have You Lost Money Investing with James Unger?
The legal team at Meyer Wilson is interested in speaking with anyone who
may have experienced financial losses due to James Unger's
fraudulent behaviors. If you were the victim of a fraudulent broker’s action, contact
one of our investment fraud attorneys at Meyer Wilson by giving us a call
at (888) 390-6491 today
for a free case evaluation.