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Former Advisor Sentenced to Over Eight Years for $17 Million Fraud Scheme

Posted on July 22nd, 2025 at 11:42 AM
Former Advisor Sentenced to Over Eight Years for $17 Million Fraud Scheme

A former financial advisor from Pennsylvania has been sentenced to more than eight years in federal prison for defrauding clients out of over $17 million, including his own widowed aunt. Scott Jeffrey Mason, who operated Rubicon Wealth Management, admitted to misappropriating client funds. ThinkAdvisor reports that Mason used the funds to finance personal luxuries ranging from international travel and country club memberships to credit card bills and a miniature golf course investment.

The U.S. District Court in Philadelphia handed down a 97-month prison sentence, followed by three years of supervised release. Mason was also ordered to pay approximately $25 million in restitution, though his defense counsel acknowledged that most of the funds are gone, with roughly $3 million expected to be recovered.

In court, Mason took responsibility for betraying the trust of those who relied on him, stating there were no excuses for his actions, according to ThinkAdvisor.

Mason pleaded guilty in January to charges of wire fraud, securities fraud, investment adviser fraud, and filing false income tax returns. The Securities and Exchange Commission brought parallel civil charges, and multiple civil suits from former clients, including one filed by his aunt, remain active.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

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