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

More Victims Expected to Come Forward in Case Involving Former Western International Securities Brokers SIAS and Chichester

Former financial advisors Clement Chichester and Brittany Sias have been arrested,

“by detectives from the California Department of Insurance for allegedly scamming a senior victim out of more than $1 million in cash and property,” according to a California Department of Insurance press release. “The two face more than two dozen felony counts, including identity theft, embezzlement, forgery and fraud.”

FINRA barred the couple in October 2017 after they requested documents and information during the course of its investigation and the brokers failed to respond to FINRA's requests for documents and information.

According to Broker Check, Clement Chichester and Brittany Sias worked at Western International Securities in Westlake Village, California before being discharged in October 2017.

The brokers were both licensed insurance agents and engaged in insurance sales as an outside business activity. According to investigators, the couple earned massive commissions by allegedly convincing their elderly client to buy unnecessary and unsuitable annuities, and later persuading her to liquidate the policies to invest in real estate investment trusts.

Allegations by the Department of Insurance also claim that Chichester talked the client into selling property that was valued at about $1 million to him for just $68,800. The broker allegedly obtained the funds to purchase the real estate by scamming another client.

More Victims Are Expected to Step Forward

The California Department of Insurance suspects that more scam victims will be discovered as investigations proceed. If you or your loved one lost money due to the couple's alleged scheme, you are encouraged to call Meyer Wilson’s investment fraud lawyers right away at 888-390-6491. Since inadequate supervision can result in brokerage firm liability when broker misconduct causes financial losses, you may be able to recover compensation from Chichester, Sias, and Western International Securities, Inc.

Related Posts:

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