Ex-Advisor Gets 22 Years in Prison for Fleecing Investors of $9 Million [Barron's]
Lincoln National Corporation (LNC)
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Source: Barrons
Over a five-year period, Raymond Erker sold to at least 54 clients investments that he misrepresented as annuities and secured notes; the investments purportedly were low risk and had guaranteed returns. In reality, Erker and two co-defendants diverted client funds to their personal bank accounts and companies they controlled. The co-defendants, who aided in the scheme, previously pleaded guilty and were sentenced earlier this year. Their victims included widows, police officers, machinists, and friends and family members of Erker, according to local news site Cleveland.com, which reported that about 50 people attended Erker’s sentencing on Aug. 2. Erker concealed his misconduct by creating fake websites and account statements for investors. In addition, he contracted with call centers to field client calls. The former Westlake, Ohio advisor used funds from new investors to pay old ones, “the defining characteristic of a Ponzi scheme,” the Department of Justice said. It’s not clear
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News
- LINCOLN NATIONAL SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Lincoln National Corporation - LNCBusiness Wire
- LNC DEADLINE ALERT: Bernstein Liebhard LLP Reminds Lincoln National Corporation Investors of Upcoming DeadlineAccesswire
- LNC Investor News: Rosen, Leading Investor Counsel, Encourages Lincoln National Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action – LNCBusiness Wire
- DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Lincoln NationalPR Newswire
- Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Lincoln National Corporation (LNC)Business Wire
LNC
Earnings
- 2/8/24 - Miss
LNC
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEFA14A
- 4/11/24 - Form DEF
- LNC's page on the SEC website