A financial adviser already under investigation by a Louisianacredit union for suspicious check deposits has been charged withmaking illegal withdrawals from a client's retirement account.
John Larry Gathright of West Monroe, La. has been charged withmoney laundering involving the alleged theft of more than $1million from 11 of his clients, according to The News Star.
In the Sept. 14 arrest warrant, a man said Gathright held thepower of attorney for his 75-year-old mother. He said more than$200,000 had allegedly been taken from her retirement accountbetween July 2010 and March 2011. The cashier checks for Gathrightwere made out to Merrill Lynch, the publication reported.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
