FPPad has followed the story of Matthew Weitzman beginning in April 2009 when charges of “certain irregularities in a limited number of client accounts” were brought against him.
See our previous entries:
- Anti-Fraud Measures Your Practice Needs
- Follow Up to Fraud Prevention Practices
- Weitzman’s Right to Use CFP® Certification Mark Suspended
According to Ron Leiber at the New York Times (Ron and his family were former clients of Weitzman), Weitzman was sentenced to 97 months in prison yesterday.
Click here to read the entry in the New York Times Bucks blog.
Again, I can only stress how important it is to have clearly defined processes as to how your firm fights fraud. Take the opportunity to tell clients what you do and how you keep staff responsible for the safeguarding of client assets. A dose of proactive communication can go a long way when so many stories are being published about advisers accused of stealing from their clients.
