New York Criminal Lawyer Blog
An Omaha financial advisor who had a number of famous clients, including members of the sports world, defrauded investors of over $3 million over a period of four years, a U.S. Attorney related to a New York Criminal Lawyer. The 46-year-old financial advisor pleaded guilty to securities fraud in U.S. District Court.
New York Criminal Lawyers have learned the financial advisor received millions of dollars under false pretenses, with the idea that she would invest the money. Instead, she spent it to enhance her own lifestyle and to bolster businesses under her control.
Money was spent to charter private aircraft, buy new homes, and pay off both personal debts and debts accumulated due to business. Her victims lost $3,035,000 between 2005 and 2009. According to a New York Criminal Lawyer, she even advised Michael Vick after his dogfighting case and bankruptcy.
She stole at least $900,000 from accounts belonging to Vick and arranged for some of Vick’s business interests to be transferred to her. The financial advisor had already been barred from the New York Stock Exchange after she stole $150,000 from two elderly widows.
The U.S. Attorney told a Long Island Criminal Lawyer that it was a “Ponzi-like” scheme. She would take money from new investors to pay off investors from before. It looked like there was profit being made, when in truth she was just stealing.
She told her investors their money was in Gallup bonds, and real estate. Most of these investments were fictitious. The financial advisor could receive 20 years in prison, be fined up to $1 million.
It is everyone’s right to have a defender in court and one of the best defenders anyone could have is a New York Criminal Attorney. If you want your case to be brought to its best possible resolution, a New York Criminal Attorney is the one to do just that.
The Office of Stephen Bilkis and Associates can offer you support and guidance as well as a free consultation when you contact us at 1-800-NY-NY-LAW. We have offices in New York City, including Brooklyn, Queens, Manhattan, Staten Island and The Bronx and in Nassau County, Suffolk County and Westchester County.