Newspaper article St Louis Post-Dispatch (MO)

Former Stifel Nicolaus Employee Bilked Loyal Client out of More Than $200,000, Federal Indictment Claims

Newspaper article St Louis Post-Dispatch (MO)

Former Stifel Nicolaus Employee Bilked Loyal Client out of More Than $200,000, Federal Indictment Claims

Article excerpt

ST. LOUIS - A former Stifel Nicolaus financial consultant pleaded not guilty in federal court Wednesday to federal charges that claim he took more than $200,000 from a loyal client.

The indictment on four counts of wire fraud says Mitchell T. Yanow persuaded his client to hand over signed blank checks from the client's Stifel Prestige account, purportedly to pay the man's expenses.

Yanow, 51, of Palm Beach County, Fla., instead used the money for his own expenses, the indictment says. He wrote checks to his "homeowner's association, his sons' camp, his children's college counselor and ... to purchase a Corvette," the indictment says. Yanow also wrote some checks to his mother-in-law, who then transferred the money to Yanow's wife, the indictment says. …

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