Joel William Carlson Pleads Guilty to Tax Evasion; Allegedly Stole $1.5 Million from Clients

Rochester stockbroker fraud attorneyJoel William Carlson, an investment advisor from Vadnais Heights, Minnesota, has been accused of misappropriating approximately $1.5 million in client money. It also found that between 2010 and 2012, Carlson was able to secure funds from elderly investors by promising “safe” investment security options. In reality, FINRA noted, he never invested his customers’ money, but rather converted the funds for personal use, and deposited client investments – and funds from his father – into a Trust Financial Group account, which was his personal bank account. When accosted by clients, the attorney’s office says, Carlson lied about the existence of their investments.

Carlson Has a History of Tax Evasion

Joel William Carlson, who was formally charged on Aug. 4, pleaded guilty to two counts of tax evasion for financial years 2010, and 2011, also failed to timely file personal income tax returns for tax years 2005, 2006, and 2007, the IRS claims. Carlson has agreed to pay approximately $1.2 million to the IRS, and will also deliver restitution to the investment fraud victims, and his poor father, the IRS reports.

Investment Fraud Lawyers Investigating

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Joel William Carlson

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1225 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.