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San Diego-Based Financial Advisor Accused of Taking Millions from Victims in Alleged Ponzi Scheme

Investing your money can be a great way to save for the future. However, it is devastating to learn that your hard-earned cash wasn’t being put where you thought. Instead it was stolen from you resulting in thousands of dollars worth of losses that you have been saving for retirement, college funds, travel and enjoying your life.

Dozens of San Diegans have alleged this is exactly what happened to them. They claim licensed financial advisor Christopher Dougherty said he was investing their money in various bonds and accounts, but they later found out he filed for bankruptcy, and their investments were gone.

The Law Offices of Mark L. Miller is representing 11 victims of this alleged Ponzi scheme. Two clients were Dougherty’s neighbors who trusted him with their money. They invested at least $450,000 into his company, C & N Wealth Management, and were told it was being invested in tax-free municipal bonds. They later discovered that, without their knowledge, Dougherty put their money into heavy machinery and used to fund Dougherty and his familys lavish lifestyle.

Another couple invested over $1 million with Dougherty. They thought they were saving for retirement and were diversifying their investments by putting money into a business and a few accounts. Only too late did they learn that wasn’t true, and now their money is gone.

During an interview with ABC 10News, Attorney Larissa L. Lazarus of the Law Offices of Mark L. Miller stated that she couldn’t say whether this was an instance of elderly financial abuse, but Dougherty was acting outside of his responsibilities as a licensed financial advisor.

It is alleged that Dougherty stole more than $6 million from his victims. Dougherty was arrested and charged with 82 counts of violating various financial crimes and is currently being held in the San Diego County jail with his bail set at $5,000,000.

Click here to read the full story from ABC 10News.

Discuss Your Case with Our Team at the Law Offices of Mark L. Miller

If you have been affected in this case, reach out to our knowledgeable attorneys. We have over 20 years of experience and are committed to providing the help you need. Our team will discuss your legal options and will work with you to achieve a favorable outcome.

Schedule a free consultation by calling us at (619) 494-3821 or contacting us online.

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