Chicago Area Investment Adviser Receives 12.5 Years in Prison For $5M Investment Scheme

Posted on April 24th, 2018 at 11:03 AM
Chicago Area Investment Adviser Receives 12.5 Years in Prison For $5M Investment Scheme

From the Desk of Jim Eccleston at Eccleston Law LLC:

Chicago area investment adviser, Daniel H. Glick, of Orland Park, was sentenced to 12.5 years in prison and ordered to pay $5.2 million in restitution for allegedly stealing client funds, including money from his elderly in-laws.

According to a plea agreement back in January, Mr. Glick, through his three businesses, Financial Management Strategies, Inc., Glick Accounting Services, Inc., and Glick & Associates Ltd. represented to his clients that he would invest their money in safe investments. However, instead of investing his clients’ money, Mr. Glick used their funds to purchase luxury items and to pay off his mortgage.

Mr. Glick concealed the fraud by continuing to pay the bills and expenses on behalf of certain clients by using his other clients’ funds in a Ponzi-style scheme. Moreover, Mr. Glick also misappropriated at least several million dollars of funds from clients by providing financial institutions, such as Citizens Financial Bank and U.S. Bank National Association, with forged checks and other documents.

Eccleston Law is investigating this Ponzi scheme. Those with information should contact our law firm.

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 investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, 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: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston

Return to Archive

TESTIMONIALS

Previous
Next

I want to thank you for your excellent professional representation. It was greatly appreciated.

Michael M.

LATEST NEWS AND ARTICLES

January 21, 2022
CFP Board Establishes New Appeals Commission

The Certified Financial Planner (CFP) Board of Standards has established a new Appeals Commission. As the name suggests, the Appeals Commission possesses the sole authority to adjudicate appeal hearings.

January 20, 2022
Edward Jones Fails To Convince Supreme Court To Review Federal Preemption of Account Fee Suit

Edward Jones & Co. failed to convince the U.S. Supreme Court to analyze how a federal securities law impacts a client dispute pertaining to fee-based accounts.

January 19, 2022
SEC Charges Texas Entities Over Oil and Gas Fraud

The Securities and Exchange Commission (SEC) has charged The Heartland Group Ventures, Heartland Production and Recovery, six other Heartland-affiliated entities, four Heartland-affiliated individuals as well as several oil and gas operators.