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Massachusetts Financial Advisor Arrested for Larceny and Securities Fraud

By Altman & Altman

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...continue to full post

Full post as published by Boston Criminal lawyer Blog on March 13, 2008 (boomark / email).