Category: Embezzlement Scheme
It’s been nearly a decade since the $65 billion Ponzi scheme orchestrated by Bernard Madoff, and while there was a temporary dip in the number of similar schemes in the wake of that massive theft, securities officials are reporting that scams are on the rise again.
Our investment fraud attorneys at Meyer Wilson have considerable experience working with victims of fraud, including cases involving 401k accounts.
Senior investors are among the most frequently targeted victims of financial exploitation. In order to better protect this group of people, the Financial Industry Regulatory Authority (FINRA),adopted new rules to allow brokers to take additional steps to protect senior investors and other specific groups, the first nationally standardized protection of its type in the nation…. read more
Unethical financial brokers and advisors skim money from clients’ investment accounts without their knowledge.. In many cases, unethical brokers and advisors deceive investors by providing false information, withholding important information related to investments, or offering clients bad investment advice. Skimming Funds from Investment Accounts Recently, the Securities Exchange Commission (SEC) secured a court order to… read more
A Tennessee man, Larry Bates, and his sons, Robert and Charles, are under investigation by the U.S. Postal Inspection Service and the Federal Bureau of Investigation. The men have been indicted for carrying on mail and postal fraud that defrauded more than 300 unsuspecting customers out of $18 million dollars. Larry Bates was a former… read more
The owner of a Maryland office building “Empire Towers” recently pleaded guilty to operating a $7 million bond scheme involving more than 50 investors. Last week, former owner of Empire Towers Wilfred T. Azar III pled guilty for his role in orchestrating a massive, multi-million dollarbond scheme as well as falsifying tax returns. From January… read more
A recent Washington Post study found fraud, embezzlement and related misconduct at more than 1,000 non-profit organizations based on analysis of tax filings within the past five years. The non-profits indicated in this study cite losses of at least a quarter million dollars each. What these 1,000+ non-profits had in common was that they all… read more
Embezzlement Scheme | August 13, 2012
Former Merrill Lynch Advisor, James Ryan Lanier, Arrested in Embezzlement Scheme, Charged with Stealing $800K from Clients James Ryan Lanier, a former Merrill Lynch advisor, has been arrested and charged with fraud, money laundering, and identify theft in connection to an alleged embezzlement scheme. Authorities allege that he stole more than $800,000 from his clients… read more