Former Ameriprise Financial Services, Inc. broker Mark Speakman was recently sentenced to 60 months in prison for defrauding his clients more than $1.1 million in an investment fraud scheme between 2002 and 2015. The Meyer Wilson law firm represented victims of Speakman’s fraud.
Court documents reflect that during the time he conducted his scheme, Speakman convinced his clients to move their funds from currently held Ameriprise Financial accounts to invest them in a fraudulent real estate investment trust called Centrax. As we previously wrote in January of this year, Speakman used that money to pay for his own expenses rather than investing it as the clients expected.
“When you knowingly mix deceit and trickery into the financial well-being of individuals, you create a recipe for devastation that could last a lifetime,” said Frank S. Turner II, Acting Special Agent in Charge, Criminal Investigation, Cincinnati Field Office. “Today's sentencing demonstrates how the IRS, U.S. Attorney's Office, and the Grove City Police Department banded together to help put an end to the criminal behavior of Mr. Speakman who preyed on investors for his own personal financial gain.”
Losing your hard-earned money to fraud is a terrible experience that happens far too often to unsuspecting victims, which is why our securities fraud attorneys at Meyer Wilson have dedicated their careers to providing those in need with the experienced and knowledgeable representation they require to secure the compensation they deserve. Start taking the next step by filling out our online form to request a free case consultation, or call us at one of our locations to discuss your situation with a member of our firm today.