{"id":4745,"date":"2017-06-23T17:17:03","date_gmt":"2017-06-23T22:17:03","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4413"},"modified":"2022-05-19T13:34:47","modified_gmt":"2022-05-19T18:34:47","slug":"investor-fraud-massachusetts-adviser-sentenced-cherry-picking-scam-jury-convicts-indiana-man-accused-bilking-22-clients-lawyer-accused-bilking-eb-5-immigrant-program-investors-fake-fu","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-massachusetts-adviser-sentenced-cherry-picking-scam-jury-convicts-indiana-man-accused-bilking-22-clients-lawyer-accused-bilking-eb-5-immigrant-program-investors-fake-fu\/","title":{"rendered":"Investor Fraud: Massachusetts Adviser Sentenced in Cherry Picking Scam, Jury Convicts Indiana Man Accused of Bilking 22 Clients, Lawyer Accused of Bilking EB-5 Immigrant Program Investors, and Fake Fund Manager Will Go to Prison"},"content":{"rendered":"<p><strong>Investment Advisory Firm Founder Gets 2-Year Prison Term, Will Pay $1.3M for Fraud<\/strong><br \/>\nMichael J. Breton, a<a href=\"https:\/\/www.stockbroker-fraud.com\"> Massachusetts investment adviser<\/a>, has been sentenced to two years behind bars for running a <a href=\"https:\/\/www.stockbroker-fraud.com\">cherry picking scam<\/a> that allowed him to bilk clients. Breton, the founder of Strategic Capital Management, admitted to keeping profitable trades for himself while making unprofitable ones for customers. Breton has been ordered to pay them $1.3M in restitution.<\/p>\n<p>The cherry picking scheme went on for six years, bilking 30 investors. According to regulators and prosecutors, when certain companies were slated to announce earnings announcements, Breton would purchase securities through a master account or via block trading. When the earnings news would raise a stock&#8217;s price, Breton would keep the trades. When an earnings announcement would cause a stock&#8217;s price to go down,<br \/>\nhe would disburse these trades to clients.<\/p>\n<p><strong>Jury Convicts Indiana Investment Advisor of Securities Fraud<\/strong><br \/>\nThis week in Pittsburgh, a jury convicted Bernard Parker of mail fraud, <a href=\"https:\/\/www.stockbroker-fraud.com\">securities fraud<\/a>, and of filing false tax returns. Parker, who was the principal of Parker Financial Services, is accused of bilking 22 clients of over $1.2M and falsifying his US tax returns by not including over $790K in income.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-massachusetts-adviser-sentenced-cherry-picking-scam-jury-convicts-indiana-man-accused-bilking-22-clients-lawyer-accused-bilking-eb-5-immigrant-program-investors-fake-fu\/#more-4745\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment Advisory Firm Founder Gets 2-Year Prison Term, Will Pay $1.3M for Fraud Michael J. Breton, a Massachusetts investment adviser, has been sentenced to two years behind bars for running a cherry picking scam that allowed him to bilk clients. Breton, the founder of Strategic Capital Management, admitted to keeping profitable trades for himself while [&hellip;]<\/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":[3781,3792,3801,3760,3741],"tags":[2666,2809],"class_list":["post-4745","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-ponzi-scams","category-sec","category-sec-enforcement","category-securities-fraud","tag-cherry-picking","tag-eb-5-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investor Fraud: Massachusetts Adviser Sentenced in Cherry Picking Scam, Jury Convicts Indiana Man Accused of Bilking 22 Clients, Lawyer Accused of Bilking EB-5 Immigrant Program Investors, and Fake Fund Manager Will Go to Prison &#8212; Investor Lawyers Blog &#8212; June 23, 2017<\/title>\n<meta name=\"description\" content=\"Investment Advisory Firm Founder Gets 2-Year Prison Term, Will Pay $1.3M for Fraud Michael J. Breton, a Massachusetts investment adviser, has been &#8212; June 23, 2017\" \/>\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\/investor-fraud-massachusetts-adviser-sentenced-cherry-picking-scam-jury-convicts-indiana-man-accused-bilking-22-clients-lawyer-accused-bilking-eb-5-immigrant-program-investors-fake-fu\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Investor Fraud: Massachusetts Adviser Sentenced in Cherry Picking Scam, Jury Convicts Indiana Man Accused of Bilking 22 Clients, Lawyer Accused of Bilking EB-5 Immigrant Program Investors, and Fake Fund Manager Will Go to Prison &#8212; Investor Lawyers Blog &#8212; June 23, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Investment Advisory Firm Founder Gets 2-Year Prison Term, Will Pay $1.3M for Fraud Michael J. Breton, a Massachusetts investment adviser, has been &#8212; June 23, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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":"Investor Fraud: Massachusetts Adviser Sentenced in Cherry Picking Scam, Jury Convicts Indiana Man Accused of Bilking 22 Clients, Lawyer Accused of Bilking EB-5 Immigrant Program Investors, and Fake Fund Manager Will Go to Prison &#8212; Investor Lawyers Blog &#8212; June 23, 2017","description":"Investment Advisory Firm Founder Gets 2-Year Prison Term, Will Pay $1.3M for Fraud Michael J. 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