Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Broker Charged with Fraud Schemed Investors out of $1.2 Million

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Broker Charged with Fraud Schemed Investors out of $1.2 Million

Article excerpt

An Indiana County financial adviser and broker ripped off 22 investors of some $1.2 million and used the money to pay his mortgage, debit card purchases and other personal expenses, according to a federal grand jury and a separate civil complaint by the U.S. Securities and Exchange Commission.

Bernard M. Parker, 55, who ran Parker Financial Services from his home in Indiana, Pa., was indicted under seal Thursday on counts of securities and mail fraud.

The case was unsealed Monday and the SEC also filed a related suit against Mr. Parker.

Agents with the FBI, IRS and U.S. Postal Inspection Service said that from 2008 through 2014, Mr. Parker enticed customers to enter into "Investor Contracts" involving the purchase of tax lien certificates for properties in Florida, Colorado and Arizona, as well as other investments that were not registered by the state or the SEC. …

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