Investment Adviser Accused of Stealing $1,000,000 From ClientsIn a Press Release of September 6, 2017, the Securities Exchange Commission announced charges against a New Jersey based investment adviser, Scott Newsholme, of Farmingdale, New Jersey, alleging that he stole more than $1,000,000 from advisory clients. The underlying charges include allegations of fabricated account statements, forged promissory notes and other allegedly improper advice designed to encourage clients to invest monies in purported securities. Unfortunately, according to allegations, the clients’ checks were simply cashed, with the adviser pocketing the funds.
We offer a free initial consultation to investors who may have been victimized by fraudulent schemes of their investment advisers. For a free initial consultation contact the Law Offices of Timothy J. O'Connor at (518) 426-7700.