CFP Board Imposes Suspension of Texas Adviser Accused of Fraudulently Diverting Client Funds

Posted on September 13th, 2017 at 10:33 AM
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.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Jim Eccleston, Eccleston Law, Eccleston Law LLC, Eccleston, CFP, Texas, fraud, client funds

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As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

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