{"id":4777,"date":"2017-09-06T16:43:18","date_gmt":"2017-09-06T21:43:18","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4549"},"modified":"2022-04-01T11:33:24","modified_gmt":"2022-04-01T16:33:24","slug":"nj-investment-adviser-allegedly-used-investor-funds-pay-gambling-bills-radio-host-accused-bilking-investors-5m-ticket-resale-scheme-pennsylvania-man-pleads-guilty-felon","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/nj-investment-adviser-allegedly-used-investor-funds-pay-gambling-bills-radio-host-accused-bilking-investors-5m-ticket-resale-scheme-pennsylvania-man-pleads-guilty-felon\/","title":{"rendered":"NJ Investment Adviser Allegedly Used Investor Funds to Pay Gambling Bills, Radio Host is Accused of Bilking Investors of Over $5M in Ticket Resale Scheme, &#038; Pennsylvania Man Pleads Guilty to Felony Charges"},"content":{"rendered":"<p>\t\t\t\t<strong>NJ Investment Adviser Accused of Stealing Over $1M from Clients <\/strong><br \/>\nThe US Securities and Exchange Commission has brought<a href=\"https:\/\/www.stockbroker-fraud.com\"> investment adviser fraud charges <\/a>against Scott Newsholme, a New Jersey-based financial adviser and tax preparer, accusing him of stealing over $1M from clients so he could support his lifestyle and support his gambling. According to the regulator, Newsholme generated fake account statements and \u201cdoctored stock certificates and forged promissory notes.\u201d <\/p>\n<p>Prosecutors have filed a parallel criminal case against him. Rather than invest clients\u2019 funds in different securities as promised, Newsholme allegedly went to a check-cashing store to cash their checks and then kept their money for himself to cover his own expenses and gambling activities, as well as make Ponzi-like payments to the clients who wanted their money back. <\/p>\n<p><strong>Radio Host Accused of Stealing Millions of Dollars in Concert Ticket Scheme<\/strong><br \/>\nCraig Carton, a sports radio host, is accused of running a concert ticket scam to bilk investors. According to the SEC\u2019s complaint, he and Joseph Meli, another man whom the regulator had already filed charges against earlier this year, touted blocks of face value tickets to concert performances that were in demand and promised investors high returns that would come from ticket resales and their accompanying price markups. <\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/nj-investment-adviser-allegedly-used-investor-funds-pay-gambling-bills-radio-host-accused-bilking-investors-5m-ticket-resale-scheme-pennsylvania-man-pleads-guilty-felon\/#more-4777\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NJ Investment Adviser Accused of Stealing Over $1M from Clients The US Securities and Exchange Commission has brought investment adviser fraud charges against Scott Newsholme, a New Jersey-based financial adviser and tax preparer, accusing him of stealing over $1M from clients so he could support his lifestyle and support his gambling. According to the regulator, [&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":[3781,3738,3792,3801,3760,3741],"tags":[],"class_list":["post-4777","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-investor-fraud","category-ponzi-scams","category-sec","category-sec-enforcement","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NJ Investment Adviser Allegedly Used Investor Funds to Pay Gambling Bills, Radio Host is Accused of Bilking Investors of Over $5M in Ticket Resale Scheme, &amp; Pennsylvania Man Pleads Guilty to Felony Charges &#8212; Investor Lawyers Blog &#8212; September 6, 2017<\/title>\n<meta name=\"description\" content=\"NJ Investment Adviser Accused of Stealing Over $1M from Clients The US Securities and Exchange Commission has brought investment adviser fraud charges &#8212; 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