Lawrence Robertson Sentenced - Financial Abuse - Michigan

Lawrence Robertson Sentenced – Financial Abuse – Michigan

Detroit Man, Lawrence Robertson, Sentenced for Financial Abuse of Elderly Victim and Historic Church.

LANSING, MI (STL.News) Lawrence Roberson, 75, of Detroit, was sentenced to two years probation after pleading guilty to one count of Embezzlement by Agent $50,000 to $100,000, in a case of securities and elder abuse, Michigan Attorney General Dana Nessel announced.  Roberson is required to pay restitution to the victims totaling $90,000.

In 2015, Roberson ran a company called Wealth Management LLC.  As the financial advisor for both People’s Community Church and a retiree, he recommended both clients invest in a specific bond.  The victims provided the funding for the investment to Roberson, but he never invested the funds, instead converting the money for his own use to recoup losses he had suffered in a lottery scam.

Roberson’s fraud cost the retired victim nearly half her retirement savings and took a significant portion of the resources of People’s Community Church, a historic congregation in the African American community.  As a result of his actions, Roberson lost his financial advisor’s license and was forced to close his business.

“Mr. Roberson abused his authority as an advisor to steal from his clients and must be held accountable,” said Nessel.  “When bad actors take advantage of their clients for personal gain, my Financial Crimes Division is prepared to prosecute egregious and illegal violations of their client’s trust.”

Roberson must pay $40,000 in restitution to the retiree and $50,000 in restitution to People’s Community Church.

SOURCE: Michigan Attorney General


Martin Smith is the founder and Editor in Chief of STL.News, STL.Directory, St. Louis Restaurant Review, STLPress.News, and USPress.News.  Smith is responsible for selecting content to be published with the help of a publishing team located around the globe.  The publishing is made possible because Smith built a proprietary network of aggregated websites to import and manage thousands of press releases via RSS feeds to create the content library used to filter and publish news articles on STL.News.  Since its beginning in February 2016, STL.News has published more than 250,000 news stories.  Smith is a member of the United States Press Agency.

More Reading

Post navigation