Litigation: SEC Charges Financial Advisor With Fraud for Stealing From Elderly Customers to Pay Personal Expenses
June 08, 2023
June 08, 2023
WASHINGTON, June 8 -- The Securities and Exchange Commission issued the following litigation release (No. 4:23-cv-00564; N.D. Tex. filed June 6, 2023) involving Douglas McKelvey:
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The Securities and Exchange Commission yesterday charged Douglas McKelvey, a former financial advisor with fraud for misappropriating more than $1.7 million from two elderly brokerage customers who were close relatives of McKelvey's.
The SEC's complaint alleges that . . .
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The Securities and Exchange Commission yesterday charged Douglas McKelvey, a former financial advisor with fraud for misappropriating more than $1.7 million from two elderly brokerage customers who were close relatives of McKelvey's.
The SEC's complaint alleges that . . .