{"id":1537,"date":"2014-10-27T15:12:40","date_gmt":"2014-10-27T15:12:40","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/10\/investment_adviser_pleads_guil"},"modified":"2022-03-11T13:33:43","modified_gmt":"2022-03-11T19:33:43","slug":"investment-adviser-pleads-guil","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-pleads-guil\/","title":{"rendered":"Investment Adviser Pleads Guilty to Involvement in $2M Cherry Picking Securities Scam"},"content":{"rendered":"

\t\t\t\tNoah Myers waved his right to indictment and pleaded guilty to defrauding clients of over $2M. The investment adviser admitted to his involvement in a cherry picking<\/a> scam. Myers, 43, owns MiddleCove Capital LLC, which is located in Connecticut. He faces up to 20 years behind bars and a maximum fine of $5 million.<\/p>\n

As part of his guilty plea, Myers admitted to taking profits from investments for himself and other accounts he favored. Losses were distributed to accounts he did not favor. He accomplished this imbalanced distribution by waiting to assign a trade to an account until after he was able to determine whether it was profitable.<\/p>\n

Because of his securities scam<\/a>, clients lost over $2 million. Meantime, he made $460,000 in profits. A lot of the investors he bilked were retired and had asked MiddleCove to involve them in investments that were low risk.<\/p>\n

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

Noah Myers waved his right to indictment and pleaded guilty to defrauding clients of over $2M. The investment adviser admitted to his involvement in a cherry picking scam. Myers, 43, owns MiddleCove Capital LLC, which is located in Connecticut. He faces up to 20 years behind bars and a maximum fine of $5 million. As […]<\/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":[3781],"tags":[],"class_list":["post-1537","post","type-post","status-publish","format-standard","hentry","category-investment-advisers"],"yoast_head":"\nInvestment Adviser Pleads Guilty to Involvement in $2M Cherry Picking Securities Scam — Investor Lawyers Blog — October 27, 2014<\/title>\n<meta name=\"description\" content=\"Noah Myers waved his right to indictment and pleaded guilty to defrauding clients of over $2M. 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