Detroit man sentenced for embezzling from retiree, historic church
(CBS DETROIT) - A Detroit man is sentenced to two years probation for embezzling thousands of dollars from a retiree and the People's Community Church.
Lawrence Roberson, 75, is required to pay restitution to the victims, totaling $90,000 -- $40,000 will go to the retiree and $50,000 to the church.
According to the Michigan Attorney General's office, Roberson ran Wealth Management LLC as a financial advisor and recommended the retiree and the church invest in a specific bond. After receiving the money, Roberson did not invest in the funds and instead used them to recoup losses he suffered from a lottery scam.
The fraud cost the retiree nearly half of her retirement savings and a significant amount from the church, which is a historic congregation in the African American community.
Roberson lost his financial advisor's license and closed his business.
"Mr. Roberson abused his authority as an advisor to steal from his clients and must be held accountable," Michigan Attorney General Dana Nessel said in a statement. "When bad actors take advantage of their clients for personal gain, my Financial Crimes Division is prepared to prosecute egregious and illegal violations of their client's trust."
