A Hull, Massachusetts man was arrested on five counts of larceny and securities fraud.
According to the Massachusetts Attorney General’s office, Jeffrey Gruber, 44, misrepresented himself as a stockbroker and certified financial planner from October 2005 until March 2006. He gave a “client” advice about stocks, bonds, a real estate loan, and placed money into accounts under the name Gruber Financial Services Inc. The victim gave $187,000 to Gruber and asked him to invest the funds.
A complaint filed by the Secretary of State’s Security Division says that Gruber used the funds himself and did not invest them. He also allegedly failed to comply and honor the victim’s demand that he account for her investments and give her the money back.
In Brockton Superior Court on Wednesday, Gruber pled not guilty to the charges. Bail was set at $500,000.
In Massachusetts, the penalty for larceny over $250 is five years maximum in prison.
Our Boston, Massachusetts white collar crimes attorneys have represented many clients throughout Massachusetts in criminal cases.
White collar crimes can include:
• Mail fraud • Wire fraud • Investment adviser fraud • Medicare/Medicaid fraud • Real estate fraud • Tax fraud • Embezzlement • Pension fraud • Insider trading • Tax fraud • Computer crimes • Identity theft • Bankruptcy fraud
White collar crime fraud cases require the legal experience of a law firm that is experienced in handling such matters.
Former financial advisor arrested on charges of securities fraud and larceny, Boston.bizjournal.com, March 13, 2008
Related Web Resources:
White Collar Crimes, Justia
Massachusetts Securities Division
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