Former Merrill Lynch Broker Accused of Additional Ponzi Scheme Charges

Posted on March 20th, 2014 at 10:00 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Jane O’Brien, a former Merrill Lynch broker who is serving a 33-month sentence for securities fraud, faces additional charges for wire fraud, mail fraud and investment adviser fraud related to misappropriating $1.3 million of client funds.

From June 1995 to April 2013, Ms. O'Brien, 61, convinced several clients to take money from their bank and brokerage accounts and give the money to her for private-placement investments. Ms. O'Brien promised clients a 25% return, but the money went to personal expenses and to make payments to other clients.

The charges pertain to three accounts that Ms. O'Brien served while at Smith Barney and later after she had moved to Merrill Lynch in 2007.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags:

Return to Archive

TESTIMONIALS

Previous
Next

Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

LATEST NEWS AND ARTICLES

April 25, 2024
B. Riley Financial Clears Air Amid Allegations, Stock Surges

Amidst swirling speculation regarding its connections with a client linked to the Prophecy Asset Management collapse, B. Riley Financial Inc. has conducted an internal
review, concluding no affiliations with the defunct hedge fund.

April 24, 2024
RIA Insurance Claims Skyrocket

A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.

April 23, 2024
Surge Predicted in Regulation Best Interest Cases

According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.