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Written by 3:47 pm Blog, Securities Fraud Articles

Former PrimeVest Advisor Brian Anderson sentenced to prison

Brian Anderson, a former registered representative with PrimeVest Financial Services in Jersey City, has been sentenced to 68 months in federal prison, after admitting that he stole more than $1 million from eight elderly clients.

At his sentencing Wednesday, 46-year-old Brian Anderson of Oradell also was ordered to pay more than $1.1 million in restitution.

Anderson pleaded guilty in March to a single count of embezzlement. At his plea hearing, Mr. Anderson confessed that he misled elderly clients into withdrawing money from their bank accounts between 2002 to 2006, according to documents from the U.S. District Attorney’s office in New Jersey.

Mr. Anderson stopped working for PrimeVest in October 2007, according to a spokesman for the firm.

Mr. Anderson noted that these elderly clients were under the impression that he would invest their money. Instead, he deposited the money into an account he controlled and kept it for his personal use, according to the District Attorney’s office.

If you have questions about investments you made with Brian Anderson or PrimeVest, The White Law Group may be able to help.  For a free consultation, call the firm at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.

For more information on The White Law Group, please visit our website at https://whitesecuritieslaw.com.

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