Call Now For a Free Consultation:
(614) 502-6165

Michigan Investment Advisor Loses License; Accused of Investment Scam

An investment advisor in Kalamazoo, MI was charged with wire fraud May 16th in Grand Rapids. Joseph Fabian, the former owner of Fabian and Associates, LLC, allegedly took $4.3 million from clients in an investment scam. He also owns American Surplus Salvage, which is based in Kalamazoo.

One client, Diane Wieandt of Kalamazoo, supposedly lost $300,000 in the alleged fraud. There are said to be many other clients also involved in the case. Officials report that Fabian allegedly told victims that he would be investing their money in bank certificates of deposit, but actually pocketed the money for himself.

These charges come after several other allegations. It was reported in November of 2010 that Fabian had lost his license as a financial advisor in 2009, but continued to act as a licensed financial advisor. Not long after, in January 2011, Fabian was under investigation for possible embezzlement. Fabian could face 20 years in prison if convicted of felony wire fraud.

If you have lost money in an investment fraud scheme, you need the experience and attention the investment fraud attorneys at Meyer Wilson offer. We are securities fraud attorneys who represent clients all over the nation in stockbroker mediation, arbitration, and litigation. Contact us today, or use the confidential online contact form at the top of this page.

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 .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram