Former financial advisor Eric Erb has been suspended by FINRA for 18 months
and fined $20,000. According to the regulator, Erb committed a number
of fraudulent acts, including photocopying signature pages to open customer
accounts and forging the signatures or initials of additional customers.
Erb has also been the subject of multiple customer disputes alleging that
he used the forged signatures to
misappropriate client funds.
In addition to the fines and pending disputes, Erb was also sentenced to
57 months behind bars in April 2018 after he pleaded guilty to wire fraud
connected to a scheme in which he defrauded investors. He is also required
to pay $5.3 million to the victims of his misconduct along with a $5.3
million forfeiture judgment. He must also hand over $215,000 of the proceeds
he earned from selling his former home in Bay Shore, New York.
Did You Suffer Financial Losses While Working with Eric Erb?
If you think you lost money while investing with Erb, contact our investment
fraud attorneys at Meyer Wilson today. Give our office a call at (888) 390-6491
for a free case evaluation.