Articles Tagged with Defrauding Retirees

The SEC is investigating a crime that goes back more than a decade

In December of 2016, the Securities and Exchange Commission (SEC) filed a complaint in Boston’s federal court against broker Richard Cody. The complaint charged Cody with defrauding at least three of his retired clients. He was registered as a broker with Concorde Investment Services, but conducted business as Boston Investment Partners.

The SEC alleges that over a 12-year span, Cody concealed from those clients that their retirement accounts had suffered losses, and that he led them to believe that their investments were maintaining value and that they were living off income from them.