Former broker Mark Preston French (CRD# 2951572) pleaded guilty today to one count of wire fraud in U.S. District Court in Columbus, Ohio. The case stems from allegations that French was involved in an investment fraud scheme that led to an elderly woman investing more than $1.3 million.
According to the accusations, French allegedly advised a client of his to open a joint bank account using the client’s name and his name. This was so he could invest money in gold and silver. He allegedly informed the client to keep the arrangement secret and to not disclose information about the account. The indictment claims that French allegedly used the $1.3+ million to purchase the silver and gold and placed $95,000 in his own bank account.
French was employed by Investors Security Company from 2005 to 2012, and by Securities America for just one month following his departure from Investors Security Company in December of 2012.
French faces a possible sentence of 20 years in prison, along with fines and restitutions.
If you invested money with former broker Mark Preston French, call Meyer Wilson for a free consultation today. Our securities fraud attorneys may be able to help you recover losses after investor misconduct.