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

UBS Sues Former Advisor Robert Turner Over Alleged Misappropriation of Client Funds

Posted on June 10th, 2022 at 11:23 AM
UBS Sues Former Advisor Robert Turner Over Alleged Misappropriation of Client Funds

From the Desk of Jim Eccleston at Eccleston Law:

UBS Financial Services has filed suit against a former Waco, Texas, advisor who allegedly misappropriated nearly $17 million from at least 23 investors over a 24-year period. 

UBS is alleging fraud and is seeking an asset freeze in order to assist the company with covering its reimbursement costs. The advisor, Robert Turner, allegedly convinced 23 clients to purchase purported investments issued by Fairfax Financial. However, the investments were fake and had no assets to back them up, according to the suit. 

According to UBS’ petition, the firm has already reimbursed three clients a total of $5.8 million since discovering Turner’s scheme. Nevertheless, the company has determined that total client losses are likely to exceed $17 million, as clients were falsely informed that their purported investments would generate 4% to 8% returns compounded quarterly.  

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters. Those with information should contact Eccleston Law LLC.

Tags: eccleston law, ubs, texas advisor

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

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.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

1777047237 Law
April 24, 2026
Geopolitical Tensions Prompt Wealth Advisors to Rethink Dubai Strategies

Recent geopolitical developments have forced wealth advisors to reassess client exposure to Dubai, a jurisdiction that has attracted significant ultra-high-net-worth capital over the past decade.

1776963542 Law
April 23, 2026
Advisor Recruiting Surges in 2025 as Industry Movement Reaches New Highs

Advisor movement across the wealth management industry accelerated sharply in 2025, with 11,172 experienced financial advisors changing firms, according to reporting by Wealth Management citing the latest Advisor Transition Report from Diamond Consultants.

1776796402 Law
April 21, 2026
DOL Proposal on Alternative Assets in 401(k)s Faces Cautious Reception

The U.S.