Estimated reading time: 0 minutes, 21 seconds

Advisor Must Repay Stolen Funds, Serve Jail Time

Claus Foerster, formerly of Spartanburg, S.C., has been sentenced to two years in jail and has been ordered to pay $3.5 million in restitution after getting caught with stealing assets from clients. So reports WYFF.

Foerster was caught telling clients that he had found new and more attractive investments, but instead of transferring the assets into the products, he took the money for his own use.

Read the full article from WYFF.

Read 4502 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.