Ex-Advisor Gets 22 Years in Prison for Fleecing Investors of $9 Million [Yahoo! Finance News]
Lincoln National Corporation (LNC)
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Source: Yahoo! Finance News
A former financial advisor was sentenced to nearly 22 years in prison for operating a Ponzi scheme that swindled $9.3 million from investors, according to the U.S. Attorney’s Office for the Northern District of Ohio.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, previouslypleaded guiltyPhoto Illustration by Barron's Advisor; Dreamstime (2)Their victims included widows, police officers, machinists, and friends and family members of Erker, according to local news site Cleveland.com,which reported thatErker concealed his misconduct by creating fake websites and account statements for investors. In addition, he contracted with call centers to field client calls. The fo
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News
- DiCello Levitt LLP Announces Investor Class Action Lawsuit Filed Against Lincoln National Corporation (NYSE: LNC) and Lead Plaintiff DeadlineGlobeNewswire
- LNC INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Lincoln National Corporation Investors with Substantial Losses Have Opportunity to Lead the Lincoln National Class Action LawsuitGlobeNewswire
- INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Lincoln National Corporation (LNC) InvestorsBusiness Wire
- LINCOLN NATIONAL CORPORATION (NYSE: LNC) INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Lincoln National CorporationGlobeNewswire
- LNC CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Lincoln National CorporationBusiness 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