FOR IMMEDIATE RELEASE:
WEDNESDAY - September 9, 2009
FINANCIAL ADVISOR PLEADS GUILTY IN FEDERAL COURT
TO EMBEZZLING FROM CLIENTS
RALEIGH - United States Attorney George E.B. Holding announced that CHRISTOPHER BROOKS MINTZ, 34, pleaded guilty today before United States Magistrate Judge David W. Daniel to fraud by an investment advisor. According to the Criminal Information previously filed, as well as statements made during today’s plea hearing:
MINTZ worked as a financial advisor in Cary, North Carolina. He was also a representative of a Boston, Massachusetts-based broker, where MINTZ maintained brokerage accounts for his clients as well as himself. Between December, 2005 and October, 2008, MINTZ embezzled in excess of one million dollars from the brokerage accounts associated with two elderly clients. He accomplished his fraud by moving securities from his clients’ accounts to his own account, selling the securities for cash, and then wiring the cash to his personal bank account in North Carolina.
Mr. Holding stated: “Financial advisors trusted with control over their clients’s property owe those clients great duties of care. We will aggressively pursue fraud and embezzlement by professionals so entrusted, especially where, as here, the clients are elderly or otherwise vulnerable.”
Sentencing has been set for December 7, 2009, in New Bern before Chief United States District Judge Louise W. Flanagan.
Mr. Holding also praised the outstanding investigative work of the Federal Bureau of Investigation and the North Carolina State Bureau of Investigation.
This case is being handled by the Office’s Economic Crimes Section. Assistant United States Attorney Clay C. Wheeler is in charge of the prosecution.
News releases are available on the U. S. Attorney’s web page at www.usdoj.gov/usao/nce within 48 hours of release.