According to reports, Loriann Artzberger, 49,  was recently charged with theft by deception.  Specifically, Artzberger, a financial advisor in Franklin Park, was arraigned on charges that she fleeced two long-time clients out of about $135,000 in retirement savings and spent the money on a cruise, a trip to Las Vegas and other expenses.

According to an affidavit, it is alleged that starting in 2010 Ms. Artzberger had two of her clients write cashier’s checks from their retirement accounts and give them to her, ostensibly for deposit in new accounts as a way to diversify their investments.

According to her FINRA Broker Report, Ms. Artzberger was most recently employed by Janney Montgomery Scott LLC in Sewickley.  Prior to that she was employed by The Leaders Group, Inc.

The White Law Group is investigating the liability that Artzberger’s employers may have for his actions, if any.  When a FINRA affiliated broker fails to follow industry rules, that person’s broker-dealer may be liable for negligent supervision and may be responsible for losses in a FINRA arbitration claim.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.

For a free consultation with a securities attorney, please call the firm’s Chicago office at 312/238-9650.  For more information on The White Law Group, visit http://whitesecuritieslaw.com.