Woman Accused of $3 Million Investment and Securities Fraud

Last month, the U.S. Securities and Exchange Commission (SEC) filed charges against Brenda A. Eschbach. The SEC alleges that Ms. Eschbach committed securities fraud, investment advisory fraud, and acted as an unregistered broker-dealer.
Specifically, the SEC alleges that Ms. Eschbach misappropriated more than $3 million in client investment funds from 2003 – 2009. According to the government, Ms. Eschbach did not invest much of the money provided by clients but instead used it to fund her own lifestyle. She then allegedly issued false and misleading account statements to those clients.
The SEC reports that Ms. Eschbach has agreed to a settlement of the civil charges. She has reportedly pleaded guilty to related criminal charges against her and is currently awaiting sentencing.


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