Former financial adviser David A. Rockwell has been sentenced to five years in federal prison for wire and bank fraud, where he will repay the stolen funds according to court records from U.S. Attorney's Office of Middle District of Florida reports on Jan 14th this year as a part of his sentence, including $1 million worth judgment due at sentencing that day
The former financial adviser David A. Rockwell was sentenced today after pleading guilty last month for charges relating to wire and bank fraud with restitution totaling one million dollars.
Rockwell defrauded clients and took their money for himself.
This man, Rockwell, was formerly employed at a company called Cetera Advisor Networks in Fort Myers until he started to steal from his own customers! He not only stole the profits of other companies but also applied for lines of credit on two different occasions totaling $700,000 without consent or knowledge from these individuals!
When James Rockwell, formerly of Cetera Advisor Networks in Fort Myers, began to defraud clients last year and misappropriated funds for his own purposes, he also attempted a scheme against federally insured bank when applying for two lines of credit totaling $700k.
Greg Rockwell forged his clients' signatures on loan applications and then pledged their assets as collateral. The court found that he used the money for himself, not paying back any of the loans or investments made by these unsuspecting customers.
The court heard that Rockwell forged his clients' signatures on loan applications and pledged the collateral as well. He used these funds to pay off credit cards, purchase a home for himself, and take advantage of low-income housing opportunities in order to enrich himself even more.
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