Stockbroker Bernard Parker Charged with Investment Fraud by SEC
The SEC has announced fraud charges against former Edward Jones financial advisor Bernard Parker of Western Pennsylvania. According to the SEC, "Parker raised more than $1.2 million from his longstanding brokerage customers and others who were told they were purchasing legitimate real estate tax lien certificates and would earn returns of six to nine percent annually. However, Parker only used a small amount of investor funds to purchase tax liens and instead used their money to remodel his home in Indiana, Pa., make car payments, and pay bills for his father-in-law."
In addition to the fraud charges, the SEC has announced parallel criminal charges filed in federal court in Pittsburgh. These charges are related to the scheme Parker perpetrated to defraud numerous investors. In addition to having been registered as a stock broker at Edward Jones for several years, Parker also owned and operated his own his own financial services company, "Parker Financial," which was controlled and located in his home in Indiana, Pennsylvania.
Pennsylvania Securities Law Firm
Our firm has launched an investigation in the hope of reaching investors defrauded by Bernard Parker. If you or someone you love has been the victim of investment fraud or broker misconduct, please contact our team of experienced securities litigation attorneys immediately for a free consultation at (855) 462 3330 or by using our online contact form.