{"id":6841,"date":"2019-02-25T10:28:39","date_gmt":"2019-02-25T16:28:39","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6841"},"modified":"2022-05-19T12:06:19","modified_gmt":"2022-05-19T17:06:19","slug":"former-commonwealth-broker-accused-of-stealing-100k-from-retiree","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/","title":{"rendered":"Former Commonwealth Financial Network Broker Is Accused of Stealing $100K From Retiree"},"content":{"rendered":"<p>\t\t\t\t<a href=\"https:\/\/www.sec.state.ma.us\" target=\"_blank\" rel=\"noopener noreferrer\">Massachusetts Secretary of the Commonwealth William Galvin<\/a> has filed investor fraud charges against ex-broker Bruce Worthington, who was previously licensed with Commonwealth Financial Network and after that with Founders Financial Network. Worthington was based in Massachusetts.<\/p>\n<p>According to Galvin\u2019s fraud complaint, Worthington fraudulently misappropriated nearly $100K from one client\u2019s accounts. The client is a retiree who worked as a groundskeeper and a landscaper. He was an inexperienced investor and Worthington was his broker for over 15 years.<\/p>\n<p>From 2006 to 2008, about $98K was withdrawn from the retiree\u2019s brokerage account. The state regulator contends that the money went towards Worthington\u2019s own personal use. The ex-broker is accused of hiding his scam by persuading the client to diversify his portfolio. He also allegedly gave the retiree falsified documents to make it appear as if the diverted funds were put into alternative investments, including structured notes and laddered bonds, and had resulted in significant returns.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/\"  title=\"Continue Reading Former Commonwealth Financial Network Broker Is Accused of Stealing $100K From Retiree\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Massachusetts Secretary of the Commonwealth William Galvin has filed investor fraud charges against ex-broker Bruce Worthington, who was previously licensed with Commonwealth Financial Network and after that with Founders Financial Network. Worthington was based in Massachusetts. According to Galvin\u2019s fraud complaint, Worthington fraudulently misappropriated nearly $100K from one client\u2019s accounts. The client is a retiree [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6842,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3738],"tags":[3297,2269,3298],"class_list":["post-6841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-investor-fraud","tag-bruce-worthington","tag-commonwealth-financial-network","tag-founders-financial-network"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former Commonwealth Financial Network Broker Is Accused of Stealing $100K From Retiree &#8212; Investor Lawyers Blog &#8212; February 25, 2019<\/title>\n<meta name=\"description\" content=\"The client is a retiree who worked as a groundskeeper and a landscaper. He was an inexperienced investor and Worthington was his broker for over 15 years.\" \/>\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\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Former Commonwealth Financial Network Broker Is Accused of Stealing $100K From Retiree &#8212; Investor Lawyers Blog &#8212; February 25, 2019\" \/>\n<meta name=\"twitter:description\" content=\"The client is a retiree who worked as a groundskeeper and a landscaper. He was an inexperienced investor and Worthington was his broker for over 15 years.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/02\/2.25.19.jpg\" \/>\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=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former Commonwealth Financial Network Broker Is Accused of Stealing $100K From Retiree &#8212; Investor Lawyers Blog &#8212; February 25, 2019","description":"The client is a retiree who worked as a groundskeeper and a landscaper. 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He was an inexperienced investor and Worthington was his broker for over 15 years.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/02\/2.25.19.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Former Commonwealth Financial Network Broker Is Accused of Stealing $100K From Retiree","datePublished":"2019-02-25T16:28:39+00:00","dateModified":"2022-05-19T17:06:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/"},"wordCount":421,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/02\/2.25.19.jpg","keywords":["Bruce Worthington","Commonwealth Financial Network","Founders Financial Network"],"articleSection":["Broker Fraud","Investor Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/","url":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/","name":"Former Commonwealth Financial Network Broker Is Accused of Stealing $100K From Retiree &#8212; Investor Lawyers Blog &#8212; February 25, 2019","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-commonwealth-broker-accused-of-stealing-100k-from-retiree\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2019\/02\/2.25.19.jpg","datePublished":"2019-02-25T16:28:39+00:00","dateModified":"2022-05-19T17:06:19+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The client is a retiree who worked as a groundskeeper and a landscaper. 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