Securities Arbitration Lawyers BlogElder Financial News Roundup: Daniel H. Glick and Investment Professionals Inc.
Chicago investment advisor Daniel H. Glick. accused of stealing millions from elderly clients
In late March, the SEC won a temporary restraining order and asset freeze against Chicago, Illinois broker Daniel H. Glick. Glick – along with his firm, Financial Management Strategies Inc. – was accused of taking money from elderly clients and utilizing it for personal use, including spending it on a Mercedes. To cover up his actions, he is reported to have then created false account statements that exaggerated investment amounts and overstated the cash available.
The SEC had previously sued Glick, and in late March, U.S. District Judge Virginia M. Kendall signed an order freezing his personal assets and those of FMS, along with his other company, Glick Accounting Services Inc.