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Former Financial Advisor from Berks County Convicted of Fraud, Money Laundering for Scheme to Steal from Clients | USAO-EDPA

Former Financial Advisor from Berks County Convicted of Fraud, Money Laundering for Scheme to Steal from Clients | USAO-EDPA

PHILADELPHIA – United States Legal professional Jennifer Arbittier Williams declared that Jason Weigand, 51, of Sinking Springs, PA, was convicted at trial on 30 counts involving numerous prices of fraud, money laundering and identity theft arising from his elaborate scheme to steal income from his own money advisory shoppers.

In October 2017, the defendant was billed by Indictment, which was then outdated many periods. Further more, when the defendant was out on bail awaiting trial, he committed extra fraud crimes, which resulted in a second indictment. Weigand was in the long run billed with thirty counts involving multiple counts every single of wire fraud, mail fraud, financial institution fraud, interstate transportation of stolen assets, unauthorized accessibility to a personal computer, aggravated identity theft, revenue laundering, and committing offenses while on bail.

Throughout the approximately 15 yrs that he served as an expense advisor and proclaimed himself a knowledgeable and highly regarded resource of expense guidance, the defendant continuously stole revenue from his consumers and went to fantastic lengths to address up his thefts. Weigand laundered the stolen cash by passing them by means of a selection of lender accounts, and he even hacked into one particular client’s e mail account and accessed e-mail amongst the customer and one more financial investment advisor.

“Weigand has verified himself to be serial fraudster with no respect for the regulation or the fiduciary obligations of a monetary advisor, and nowadays a jury agreed,” explained U.S. Lawyer Williams. “Rather than serving his shoppers, he served himself. Prosecuting economic fraud, and thus safeguarding innocent buyers who stand to shed every little thing, will generally be a precedence for this Business office.”

“With today’s responsible verdict, Jason Weigand’s victims may at last obtain some closure on their abuse at the fingers of this serial fraudster,” said Postal Inspector in Charge of the Philadelphia Division Damon Wood.  “Mr. Wiegand was dishonest in his dealing with them, and not shockingly, that dishonesty extended through trial.  Fortuitously, a jury noticed by means of his dishonesty and found him responsible of fraud. Postal Inspectors, buying up the work of investigators from the Pennsylvania Condition Division of Banking and Securities, together with prosecutors from the United States Attorney’s Place of work, observed this investigation by way of seven yrs of delays, a pandemic, ongoing legal carry out by the defendant, and a practically 3-week trial.  I applaud the tireless initiatives of the investigators and prosecutors on this scenario.”

The case was investigated by the United States Postal Inspection Provider and the Pennsylvania Point out Division of Banking and Securities, and is currently being prosecuted by Assistant United States Lawyers Paul G. Shapiro and Christopher J. Mannion.