4.8.2009 The SEC brought fraud charges against Crossroads Financial Planning, Inc., and Julie M. Jarvis, of Columbus, Ohio, in connection with an alleged scheme by Jarvis to misappropriate funds from two elderly clients. Crossroads is an investment adviser registered with the SEC, and Jarvis is its president, chief operating officer and principal owner. The SEC alleges that Jarvis, the owner of Crossroads, misappropriated at least $2.3 million between June 2000 and March 2009.
According to the SEC, in or about May 2000, Jarvis first caused the unauthorized transfer of funds from a client's account at a brokerage firm. Over the course of the next nine years, through various means including forged and falsely notarized funds transfers instructions, Jarvis misappropriated funds from the investment accounts of the two elderly clients and used those funds for her personal expenses and benefit. In some instances, Jarvis had to liquidate securities to effect the fraudulent transfers.
Click http://www.sec.gov/litigation/litreleases/2009/lr20996.htm to access the administrative action.