Michelle and Curtis DeYoung

Date:

February 16, 2015

Type of alert:

Fraud  

The Securities and Exchanges Commission (SEC) alleges that Michelle and Curtis DeYoung misappropriated millions of dollars and committed various acts of securities fraud. Since 2000, Curtis allegedly wired $24 million from client accounts to ill-conceived investments or other purposes. From 2001 to 2010, Curtis’ salary inflated from $100,000 to $250,000 and Michelle’s salary inflated from $24,000 to $250,000. In total, Curtis made $1.9 million, while Michelle made $1 million.

Before the SEC lawsuit, the DeYoungs attempted to hide the fraud by transferring funds from their own retirement account into the bank accounts of a newly founded company.

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