Elder Fraud Abuse Attorneys

Ex-Mutual Securities Broker Julie Darrah Is Sentenced Following $2.25M Investment Fraud. Senior Financial Exploitation is Elder Abuse and our Elder Fraud Abuse Attorneys Can Help.

Shepherd Smith Edwards and Kantas Elder Fraud Abuse Attorneys (investorlawyers.com) are speaking to customers of former Mutual Securities stockbroker and fired Wealth Enhancement Group investment adviser Julie Darrah.

She was recently sentenced to 121 months in prison for wire fraud. This comes after a multi-year probe into allegations that she defrauded investors, including at least nine elderly clients.

Darrah pleaded guilty and reportedly admitted that she stole more than $2.25M from her former customers. The US Securities and Exchange Commission (SEC) sued Darrah in 2023, accusing her of misappropriating millions of dollars from clients’ brokerage accounts and the bank, as she allegedly used the funds toward her failing restaurant company.

This reportedly took place between 2016 and 2023. Her victims included nine older clients, mostly women, that hired Darrah in her role as an investment adviser for Vivid Financial Management, which was later acquired by Wealth Enhancement Group. The latter sued Darrah in 2021.

The Commission contended that Darrah took control of clients’ accounts and trust assets, liquidated securities, and transferred their money to her own accounts as she mixed these stolen funds with her own. The regulator said that she used investors’ money to pay for real estate and other luxury buys.

Julie Darrah’s BrokerCheck CRD notes that she has worked 20 years in the industry. Her record notes that at least two of her former customers have filed FINRA lawsuits, including one that was settled for $275K and another requesting over $749K in damages.

Elder Financial Abuse By A Broker or Investment Adviser

Unfortunately, there are financial professionals that will seek to take advantage of their customers and steal their money.  Elder financial exploitation by broker-dealers and investment advisers does happen.

Shepherd Smith Edwards and Kantas Elder Fraud Abuse Attorneys represent seniors, elderly investors, and their families in recouping their money because of broker fraud or negligence. Even if the broker-dealer or investment advisory was unaware of any wrongdoing, they should have been properly supervising their financial advisor while protecting customers.

According to the National Credit Union Administration, which defines elder financial exploitation as the illegal utilization of an older person’s money or resources to benefit the defrauder, this crime leads to devastating consequences.

This can include adversely affecting an elderly person’s ability to support themselves and pay for any care they might need later in life. According to one study, seniors in the US collectively lose $28.3B a year to senior financial exploitation, whether committed by a trusted professional fiduciary, a loved one, a friend, or a stranger.

Our Elder Fraud Abuse Attorneys know how heartbreaking and impactful it can be to lose your hard-earned life savings, especially at this later stage in life. We care about our clients and their families. Our law firm is committed to providing quality securities representation and personalized attention to everyone we work with.

Contact Us If You Were The Victim of Broker Misappropriation

This is not the kind of investment loss recovery claim you want to pursue without experienced senior financial exploitation lawyers on your side.

Call our Elder Fraud Abuse Attorneys at (800) 259-9010 or fill out this form.

We have partnered with McCullock & Miller to offer elder law and estate planning services to families.