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Former LPL Broker Charles Caleb Fackrell Charged in Ponzi Scheme

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In February of 2015, our securities fraud lawyers began investigating claims against former LPL Financial broker Charles Caleb Fackrell. We wrote a blog at that time discussing allegations against him claiming that he was allegedly selling sham investments to his customers.

Now, Fackrell has been charged with running a Ponzi scheme. According to court records, Fackrell has already reached a plea bargain with the prosecutors in the case.

According to federal prosecutors, Fackrell allegedly misled at least 20 individuals to invest approximately $1.4 million in various phony investments that he was touting. Prosecutors say that Fackrell used most of the money provided by investors for his own personal use.

Last year, Fackrell signed a Letter of Acceptance, Waiver & Consent with FINRA, consenting to findings that he concealed documents from FINRA during an investigation into alleged misconduct. As a result, Fackrell was permanently barred from associating with any FINRA member firm.

If you invested money with former LPL Financial broker Charles Caleb Fackrell, call our firm today. Our securities fraud attorneys can discuss your rights in a free consultation. We may be able to help you recover your losses.

WSOCTV Article

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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