S. Fla. Financial Adviser Gets 5+ Years For Fraud
FORT LAUDERDALE, Fla. (CBS4) -- A South Florida financial adviser has been sentenced to more than 5 years in federal prison after pleading guilty to stealing more than $1 million in client funds.
A federal judge imposed the sentence Friday on 52-year-old Shawn Roberts of Parkland. Robert pleaded guilty to mail fraud in February.
Court documents show that Roberts misappropriated more than $1.1 million from a client while working at a Coral Springs company. Roberts admitted converting the client's money to his own use and mailing letters to the client indicating the funds had been properly invested.
In addition to the prison time, Roberts was ordered to pay the client $1.1 million in restitution. Roberts also agreed when he pleaded guilty never to apply again for a Florida license to do securities-related business.
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