Michael Drilling Used Investor Funds for Personal Expenses
Michael Drilling pled guilty to securities fraud after defrauding 13 investors out of nearly $6 million.
From January 2010 through November 2013, Drilling solicited investors to place their funds with his investment advisor business, Financial Advisory Partners LLC. Drilling falsely represented to investors that he was going to invest their money in a larger pool of funds which he could manage more efficiently. Instead, Drilling used the money that investors trusted him to manage to pay for his own personal and business expenses.
To mask his use of investor funds, Drilling created fake accounts for each of his clients at eMoneyAdvisors.com which made it appear that their funds had been placed in real investments. Drilling entered false information into each eMoneyAdvisor.com account such as false investment holdings, false balances, and false performance information.
Some investors lost their entire life savings after making investments with Drilling.
The Peiffer Wolf 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 Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Michael Drilling
Status: INVESTIGATED by Peiffer Wolf.
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