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Kenneth A. Welsh, 42, of River Edge, "used his position as an investment advisor to gain the trust of his victims," U.S. Attorney Philip R. Sellinger said. ... Welsh was working at Wells Fargo ...
- Prosecutors File Criminal Fraud Case Against Kenneth Welsh
- Ex-Wells Fargo Broker Accused of Broker Fraud, Theft, and Unauthorized Trading
- Financial Firms and Their Duty to Supervise
- Experienced Broker Misconduct Law Firm
According to the SEC, from January 2016 to January 2021, Welsh moved money from customers’ and clients’ accounts to pay off credit card balances that were under the names of his parents and wife. He allegedly caused checks to be fraudulently drawn from customer and client accounts and made at least 137 transactions. He then used the money he stole ...
There have been several disclosures on Kenneth Welsh’s BrokerCheckover the years that claim that the broker acted negligently when managing their investment portfolios. Below are the most recent investor claims and events on Welsh’s BrokerCheck record: 1. 10/2021:SEC alleges over $2.86M in fraudulent misappropriation transactions made by Welsh. Non...
Broker-dealers must properly supervise their financial advisors and their customers’ accounts to make sure that misappropriation and other misconduct don’t lead to investment losses. Financial firms can be held liable if their failure to superviseenables customers and clients to lose money.
SSEK Law Firm has recovered many millions of dollars on behalf of investors and customers of broker-dealers. If you sustained losses while working with former Wells Fargo broker Kenneth Welsh, or any other financial adviser with that firm, call our experienced investment fraud lawyers at (800) 259-9010today.
In this article. A former Wells Fargo advisor is facing fraud charges relating to an alleged long-running scheme that bilked clients out of more than $3 million. Kenneth Welsh, of River Edge, N.J ...
Nov 20, 2023 · A former financial advisor affiliated with Wells Fargo has been formally charged with defrauding clients of over $3 million through a sophisticated scheme. Kenneth Welsh, residing in River Edge, New Jersey, faces severe legal consequences with an indictment comprising four counts of wire fraud and one count of investment advisor fraud.
Oct 29, 2021 · Wells Fargo terminated Mr. Welsh’s employment in June 2021 after the allegations arose that Mr. Welsh misappropriated funds from Wells Fargo’s customers, including senior citizens. Iorio Altamirano LLP is investigating potential legal claims on behalf of customers of Kenneth Welsh and Wells Fargo related to potential misconduct by Mr. Welsh.
Oct 28, 2021 · Kenneth Welsh, a former broker and adviser at Wells Fargo in New Jersey, was arrested for stealing more than $2.8 million from five clients.
Nov 20, 2023 · Kenneth Corbin. Nov. 20, 2023 12:32 pm ET. Print. Reprints. Text. A former Wells Fargo advisor is facing fraud charges relating to an alleged long-running scheme that bilked clients out of more ...
