Andy's Got Your Back on a dirty financial advisor - Action News 5 - Memphis, Tennessee

Andy's Got Your Back on a dirty financial advisor

Posted: Updated:
MEMPHIS, TN -

(WMC TV) - Another financial advisor goes to the dark side and dupes his trusting investors.

U.S. postal inspectors arrested and charged financial advisor Andrew Myers of Indianapolis. Surveillance linked him to more than 57 cases of identity theft.

"He stole clients' information and identity profiles from both his customers and his fellow co-workers and then performed changes of addresses and opened various bank accounts in his name," said U.S. Postal Inspector Douglas Biel.

Investor Judy Cohen...was one of Myers' victims. Inspectors said Myers used Cohen's information to apply for credit card accounts.

Her bank stopped it in time.

"(He) could have run up bills, and we would have no clue that someone was out spending in our name," said Cohen.

The jig was up on Myers because diligent investors like Cohen and their banks were monitoring their accounts. Sage advice!

Inspectors said Myers is serving a 2-year prison term. His sentence requires him to pay his victims $35,000 in restitution.

Copyright 2013 WMC-TV. All rights reserved.

Powered by WorldNow