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

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