Bernard M. Parker—Stealing Investor Money
Bernard M. Parker Allegedly Raised $1.2 Million from Longstanding Brokerage Customers and, Rather than Purchasing Tax Liens, Used the Cash to Remodel his Estate
Bernard M. Parker, 55, who ran Parker Financial Services from his home in Indiana, Pa., allegedly raised more than $1.2 million from his longstanding brokerage customers who were told they were purchasing legitimate real estate tax lien certificates and would earn returns of six to nine percent annually, according to recent SEC Documents currently under review by attorneys Joe Peiffer and Jason Kane.
Bernard M. Parker, however, allegedly only used a chunk of the aforementioned investor funds to purchase tax liens and instead used their money to remodel his home in Indiana, Pa., make car payments, and pay bills for his father-in-law, the SEC further notes.
The Peiffer Wolf securities lawyers are currently investigating Bernard M. Parker’s alleged investment scheme and are preparing to assist investors.
Bernard M. Parker Facing Disgorgement and Prejudgment Interest and Penalties in Addition to a Possible Permanent Injunction from the SEC
“Parker was using investor funds for his personal expenses, he provided investors with computer printouts of vacant lots or homes and falsely told them that his company held liens on those properties,” according to statements from the SEC’s Philadelphia Regional Office currently under review by attorneys Joe Peiffer and Jason Kane.
As result of the aforementioned behavior, Parker allegedly violated SEC Rules and is facing disgorgement plus prejudgment interest and penalties as well as a permanent injunction.
In a parallel action, the U.S. Attorney’s Office for the Western District of Pennsylvania announced criminal charges against Parker.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged investment fraud and schemes. They are currently investigating Bernard M. Parker’s alleged theft of client funds, and are preparing to assist investors. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Bernard M. Parker’s alleged theft of client funds may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Bernard M. Parker
Status: INVESTIGATED by Peiffer Wolf.
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