A former Colorado stockbroker has been accused of investment fraud for alleged violations of the Colorado Securities Act. According to the allegations, the stock fraud involved the stockbroker illegally accessing investors’ accounts.

The Denver Post reported on August 15, 2012 that the Colorado Securities Commissioner has accused stockbroker Clinton D. Fraley and Fraley’s company, Wealth by Design Inc., of accessing investors’ mutual fund accounts without their approval and forging their signatures on checks. He then allegedly used investors’ money for personal matters, including buying himself a townhouse.

According to the complaint the stockbroker was entrusted with hundreds of thousands of dollars from Colorado investors. Fraley allegedly promised investors that their money would be invested in a well-balanced portfolio of investments. According to the lawsuit, Fraley solicited at least $500,000 from two Colorado firefighters. Of course, much of the money apparently was invested as promised.

EN   ES   PT     

Miami Office
Grand Bay Plaza
2665 S. Bayshore Drive
Penthouse 2B
Miami, FL 33133
Telephone: 786.628.8236

Los Angeles Office
Available by Appointment
2029 Century Park East
Century Plaza Tower
Suite 400N
Los Angeles, CA 90067
Telephone: 424.544.7930

New York City Office
Available by Appointment
14 Wall St, 20th Floor
New York, NY 10005
Telephone: 917.382.5217

West Palm Beach Office
Northbridge Centre
515 N. Flagler Drive, Suite P-300
West Palm Beach, FL 33401
Telephone: 561.475.2887

Detroit Office
41000 Woodward Avenue,
Suite 350 East
Bloomfield Hills, Mi 48304
Telephone: 248.368.0182