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.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 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.