{"id":1526,"date":"2014-10-08T15:13:12","date_gmt":"2014-10-08T15:13:12","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/10\/securities_fraud_exameriprise"},"modified":"2022-03-11T13:33:28","modified_gmt":"2022-03-11T19:33:28","slug":"securities-fraud-exameriprise","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-exameriprise\/","title":{"rendered":"Securities Fraud: Ex-Ameriprise Adviser to Pay $3M for Ponzi Scam, Four Insurance Agents Allegedly Defrauded Senior Investors, and Trading in Nine Penny Stocks is Suspended"},"content":{"rendered":"

\t\t\t\tFormer Ameriprise Adviser Ordered to Jail, Must Pay $3M Restitution<\/strong><\/p>\n

Oscar Donald Overbey Jr., an ex-Ameriprise Financial Services (AMP) financial adviser, must pay back the $3 million he allegedly stole from investors while operating a Ponzi scam. The 47-year-old has been sentenced to three and a half years behind bars.<\/p>\n

Court documents say that from 1996 into 2007, Overbey stole about $4 million of client funds that he was supposed to invest. Instead, the money was used to pay earlier investors, cover his personal expenses, and pay off his gambling debts.<\/p>\n

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

Former Ameriprise Adviser Ordered to Jail, Must Pay $3M Restitution Oscar Donald Overbey Jr., an ex-Ameriprise Financial Services (AMP) financial adviser, must pay back the $3 million he allegedly stole from investors while operating a Ponzi scam. The 47-year-old has been sentenced to three and a half years behind bars. Court documents say that from […]<\/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":[3791,3752,3741,3803],"tags":[],"class_list":["post-1526","post","type-post","status-publish","format-standard","hentry","category-ameriprise-securities-america","category-financial-firms","category-securities-fraud","category-senior-investors"],"yoast_head":"\nSecurities Fraud: Ex-Ameriprise Adviser to Pay $3M for Ponzi Scam, Four Insurance Agents Allegedly Defrauded Senior Investors, and Trading in Nine Penny Stocks is Suspended — Investor Lawyers Blog — October 8, 2014<\/title>\n<meta name=\"description\" content=\"Former Ameriprise Adviser Ordered to Jail, Must Pay $3M Restitution Oscar Donald Overbey Jr., an ex-Ameriprise Financial Services (AMP) financial adviser, — October 8, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-exameriprise\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Fraud: Ex-Ameriprise Adviser to Pay $3M for Ponzi Scam, Four Insurance Agents Allegedly Defrauded Senior Investors, and Trading in Nine Penny Stocks is Suspended — Investor Lawyers Blog — October 8, 2014\" \/>\n<meta name=\"twitter:description\" content=\"Former Ameriprise Adviser Ordered to Jail, Must Pay $3M Restitution Oscar Donald Overbey Jr., an ex-Ameriprise Financial Services (AMP) financial adviser, — October 8, 2014\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Fraud: Ex-Ameriprise Adviser to Pay $3M for Ponzi Scam, Four Insurance Agents Allegedly Defrauded Senior Investors, and Trading in Nine Penny Stocks is Suspended — Investor Lawyers Blog — October 8, 2014","description":"Former Ameriprise Adviser Ordered to Jail, Must Pay $3M Restitution Oscar Donald Overbey Jr., an ex-Ameriprise Financial Services (AMP) financial adviser, — October 8, 2014","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-exameriprise\/","twitter_card":"summary_large_image","twitter_title":"Securities Fraud: Ex-Ameriprise Adviser to Pay $3M for Ponzi Scam, Four Insurance Agents Allegedly Defrauded Senior Investors, and Trading in Nine Penny Stocks is Suspended — Investor Lawyers Blog — October 8, 2014","twitter_description":"Former Ameriprise Adviser Ordered to Jail, Must Pay $3M Restitution Oscar Donald Overbey Jr., an ex-Ameriprise Financial Services (AMP) financial adviser, — October 8, 2014","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-exameriprise\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-exameriprise\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Securities Fraud: Ex-Ameriprise Adviser to Pay $3M for Ponzi Scam, Four Insurance Agents Allegedly Defrauded Senior Investors, and Trading in Nine Penny Stocks is Suspended","datePublished":"2014-10-08T15:13:12+00:00","dateModified":"2022-03-11T19:33:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-exameriprise\/"},"wordCount":525,"articleSection":["Ameriprise - 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