CFP Board Imposes Suspension of Texas Adviser Accused of Fraudulently Diverting Client Funds
From the Desk of Jim Eccleston at Eccleston Law LLC:
The CFP Board has suspended Houston, Texas native, Lawrence A. DeShetler after the registered investment adviser failed to respond to a CFP show-cause order.
The CFP Board’s investigation stems from criminal charges against Mr. DeShetler. Mr. DeShetler has pleaded guilty to one count of mail fraud for fraudulently obtaining $1.9 million from five clients and depositing the money into his own personal account to pay personal expenses. Mr. DeShelter could face up to 20 years in federal prison.
The CFP Board will determine at a later date if it will revoke Mr. DeShelter’s CFP certification.
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Related Attorneys: James J. Eccleston
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