Tr?id=566623520170033&ev=PageView&noscript=1

Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme

Posted on January 14th, 2022 at 12:37 PM
Ohio Advisor Pleads Guilty In $9.3 Million Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law:

A former Northeast Ohio-based advisor, Tara Brunst, has pleaded guilty to her role in a $9.3 million Ponzi scheme. 

Brunst pleaded guilty to several charges including conspiracy to commit mail and wire fraud. According to the complaint, Brunst operated the scheme along with co-defendants Raymond Erker and Kevin Krantz at Sageguard Wealth Management, which is located in Westlake, Ohio. 

The deception occurred between January 2013 and January 2018. Brunst joined Sageguard in 2015 following her termination from PNC Investments. According to the Securities and Exchange Commission’s (SEC’s) Investment Advisor Public Disclosure Database, PNC fired Brunst over allegations that she fabricated a letter at a client’s request to make it appear as though PNC was threatening to close the client’s brokerage accounts. Brunst further failed to inform her manager about the letter while she was failed to cooperate during the investigation, according to the SEC. Brunst also served as a recruiter in the scheme by attracting clients that the co-conspirators could sell investments that they misrepresented as annuities with no risk of loss and a guaranteed rate of return, according to federal investigators. The scheme impacted at least 54 clients and enabled the co-conspirators to misappropriate nearly $9.3 million, according to the complaint. 

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

Tags: eccleston, eccleston law, ponzi scheme

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

1786553985 Law
August 12, 2026
Proposed FINRA Enforcement Reforms Draw Mixed Reactions From Industry Participants

A new report recommending changes to the Financial Industry Regulatory Authority's (FINRA) enforcement program has generated mixed reactions from investor advocates, securities attorneys and industry professionals, according to ThinkAdvisor.

1786394861 Law
August 10, 2026
FINRA Fines RBC Capital Markets $275,000 Over Anti-Money Laundering Compliance Deficiencies

The Financial Industry Regulatory Authority (FINRA) has censured and fined RBC Capital Markets $275,000 after determining that the firm failed to establish and implement reasonable anti-money laundering (AML) policies and procedures.

1786394691 Law
August 10, 2026
Federal Judge Rejects Merrill Lynch's Renewed Bid to Force Dynasty Into FINRA Arbitration

A federal judge has denied Merrill Lynch's second attempt to compel Dynasty Financial Partners to arbitrate a high-profile dispute arising from allegations that the registered investment adviser (RIA) platform orchestrated the departure of a large Atlanta-based advisory team, according to AdvisorHub.