Has gerrymandering reached the point of relabeling every jurisdiction "Greshamsville, a dynamic setting"?
Fraud charges for Financial Planning Chief
Mark Spangler, a former chairman of the National Association of Personal Financial Advisors (NAPFA), ... diverted $46 million of his clients' money into risky ventures he co-founded.
Spangler's indictment is not the first black eye for a former executive of NAPFA, a group representing fee-only financial advisors.
In 2009, the SEC charged James Putman, a past president of the association, with accepting $1.24 million in kickbacks on client investment pools. A federal court awarded the SEC summary judgment last month, and forced Putman to pay a total penalty of $1.6 million.
Spangler's alleged fraud began in 2003 and continued through 2011, according to the SEC.
Readers who want to track some of the lies & deception may want to Open Source the effort. For all their community reporting efforts, the FBI's InfraGuard organization basically ignores white collar crime. Here's a good place to start - FraudBlog - but you might want to consider opening your own neighborhood chapter.
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