Crime & Safety
Carmel Financial Advisor Charged With Fraud
Carmel financial advisor Thomas Buck could spend 25 years in prison for charge he allegedly stole millions from clients: Report
CARMEL, IN — A Carmel financial advisor is being charged with securities fraud after officials say he defrauded clients, ultimately causing them to lose millions, WTHR reports. According to the news outlet, officials say 63-year-old Thomas Buck charged clients more than he should have for his services during his time as a financial advisor at Merrill Lynch, Pierce, Fenner & Smith. Buck is believed to have caused his clients to lose a total of $2 million due to his defrauding and failure to advise them when it came to payments and savings, WTHR reports.
Buck has reportedly agreed to plead guilty to the charge which could land him up to 25 years behind bars, in addition to agreeing to pay $5 million as part of a settlement.
More information: wthr.com
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