A former Ameriprise broker defrauded his clients out of $1.1 million by pretending to invest their money in a real estate investment trust and gold coins, federal prosecutors said.
Mark F. Speakman received a five-year prison term last week after pleading guilty to wire fraud, money laundering and filing a false income tax return. The former Grove City, Ohio, broker with the firm’s franchise channel agreed to pay back the clients and provide $300,000 in unpaid taxes to the IRS.
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