Former investment broker charged with client theft
According to reports from the Erie County DA’s office, a man from Clarence has been charged with stealing a substantial amount of money from his clients.
According to the Erie County District Attorney’s Office, Damian Baird, a former investment broker, has been accused of defrauding three clients and obtaining $153,503 through fraud. He allegedly deposited checks from his clients into his bank account instead of their investment accounts between February 3 and March 15 this year. Baird’s actions clearly violate his clients’ trust and breach the ethical standards that investment brokers are expected to uphold.
According to the District Attorney’s office, an inquiry was initiated following a complaint from a client who was informed that their investment account had not been funded and their check had been modified to be payable to the defendant.
On Tuesday morning, Baird faced charges of second and third-degree grand theft and four counts of criminal possession of a forged instrument. These charges resulted in his indictment, and he was subsequently released on his recognizance.
Baird may face a maximum sentence of 15 years imprisonment if found guilty.
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