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What You Must Know
- Jared Dean Eakes gained entry to the purchasers by shopping for books of enterprise below false pretenses, prosecutors say.
- He allegedly transferred shopper cash to his private brokerage account and engaged in unauthorized choices buying and selling.
- Eakes was charged with 4 counts of fraud and has pleaded not responsible.
Federal prosecutors have charged a former Florida monetary advisor with wire fraud, alleging he scammed purchasers in a minimum of 4 states out of over $2.7 million after having access to them by buying different advisors’ books of companies below false pretenses.
Jared Dean Eakes, from a minimum of January 2019 by means of February 2020, falsely represented himself as a registered funding advisor managing tens of millions in shopper funds and looking for, by means of an internet market, to accumulate different advisors’ enterprise, in line with an indictment filed final week in U.S. District Courtroom for the Center District of Florida.
An FBI particular agent arrested Eakes in Jacksonville on Might 20, and he was detained pending trial. Final week he pleaded not responsible to all 4 fraud counts.
The prison prices come about two years after the Securities and Change Fee filed civil prices in opposition to Eakes associated to the alleged fraud scheme. The Florida Instances-Union reported this week that the fees additionally come almost a 12 months after the SEC informed the court docket that Eakes, 32, was “actively concealing his whereabouts.”
After assuming management of shopper property from two advisors, Eakes transformed their funds to accounts he managed, prosecutors allege. The victims, together with 17 cited by initials, lived in Alabama, Arkansas, Florida, Missouri and elsewhere, in line with the indictment.
Eakes misled purchasers into considering their funds had been being invested in line with their needs, when in actuality he transformed their cash to his personal use, prosecutors allege.
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