{"id":1409,"date":"2014-03-04T17:03:48","date_gmt":"2014-03-04T17:03:48","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/03\/exmerrill_lynch_adviser_alread"},"modified":"2022-03-11T08:59:53","modified_gmt":"2022-03-11T14:59:53","slug":"exmerrill-lynch-adviser-alread","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/exmerrill-lynch-adviser-alread\/","title":{"rendered":"Ex-Merrill Lynch Adviser, Already Jailed for Massachusetts Securities Fraud, Now Indicted Over Ponzi Scam"},"content":{"rendered":"

\t\t\t\tEven as she serves her 33-month sentence for securities fraud, Jane O’Brien, a former Merrill Lynch (MER)<\/a> broker, has now been indicted for her alleged involvement in a Ponzi scam that purportedly ran for nearly two decades. The U.S. Attorney’s Office for the District of Massachusetts says that O’Brien is facing criminal charges for mail fraud, investment adviser fraud, and wire fraud involving the misappropriation of $1.3 million in client monies.<\/p>\n

Per the indictment, between 1995 and 2013 and while she worked at Citigroup (C)’s<\/a> Smith Barney and then later with Merrill, O’Brien persuaded a number of clients to withdraw money from brokerage accounts and their banks. She got their permission to invest the funds in private placements. However, instead, the 61-year-old allegedly used the money to repay other investors and cover her personal expenses.<\/p>\n

O’Brien is also accused of making misrepresentations to clients, providing them with materially false statements, “making lulling payments,” and offering false assurances that their money was secure. She even in one instance, allegedly, got a client to invest in “Crooked Arrows,” a Hollywood film, in return for a promised 25% return, which did not happen.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Even as she serves her 33-month sentence for securities fraud, Jane O’Brien, a former Merrill Lynch (MER) broker, has now been indicted for her alleged involvement in a Ponzi scam that purportedly ran for nearly two decades. The U.S. Attorney’s Office for the District of Massachusetts says that O’Brien is facing criminal charges for mail […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3800,3792],"tags":[],"class_list":["post-1409","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-merrill-lynch","category-ponzi-scams"],"yoast_head":"\nEx-Merrill Lynch Adviser, Already Jailed for Massachusetts Securities Fraud, Now Indicted Over Ponzi Scam — Investor Lawyers Blog — March 4, 2014<\/title>\n<meta name=\"description\" content=\"Even as she serves her 33-month sentence for securities fraud, Jane O'Brien, a former Merrill Lynch (MER) broker, has now been indicted for her alleged — March 4, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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