Trending...
- Digital Watchdog Launches New myDW Cloud Services
- Atlas Home Improvement Launches Annual Helmet for Heroes Giveaway on July 4, 2025
- Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
Contact: Ryan Jarvi 517-599-2746Agency: Attorney General
October 15, 2020
LANSING – A Detroit investment adviser has been arraigned on multiple felony charges after allegedly taking $90,000 from two of his clients and spending the money for his own purposes, Michigan Attorney General Dana Nessel announced today.
Lawrence Roberson, 74, was arraigned Oct. 6 in 36th District Court in Detroit. He is charged with:
Roberson, through his company, Wealth Management Group, defrauded two victims of $90,000. He did so by offering to "invest" the victims' money at a high rate of return. Instead, Roberson allegedly spent the money, largely through substantial ATM withdrawals, after depositing the victims' checks. At the time of the theft, Roberson was licensed in the State of Michigan as an investment adviser. His license was suspended in October 2016 and surrendered in January 2017.
More on Michimich.com
"Michiganders work hard for their money and they do not deserve to be duped by phony promises of big payoffs," Nessel said. "I appreciate the Michigan Department of Licensing and Regulatory Affairs for their assistance with the investigation of this matter."
Roberson was given a $30,000 personal recognizance bond. He is scheduled to appear in court next for a probable cause conference at 8:30 a.m. Oct. 27.
October 15, 2020
LANSING – A Detroit investment adviser has been arraigned on multiple felony charges after allegedly taking $90,000 from two of his clients and spending the money for his own purposes, Michigan Attorney General Dana Nessel announced today.
Lawrence Roberson, 74, was arraigned Oct. 6 in 36th District Court in Detroit. He is charged with:
- Two counts of embezzlement, 10-year and 15-year felonies;
- Two counts of securities fraud, 10-year felonies; and
- Failure to file a tax return, a five-year felony.
Roberson, through his company, Wealth Management Group, defrauded two victims of $90,000. He did so by offering to "invest" the victims' money at a high rate of return. Instead, Roberson allegedly spent the money, largely through substantial ATM withdrawals, after depositing the victims' checks. At the time of the theft, Roberson was licensed in the State of Michigan as an investment adviser. His license was suspended in October 2016 and surrendered in January 2017.
More on Michimich.com
- BIYA Forecasts 2025 Surge with ¥300M ($41.8 M USD) in Revenue and ¥25M Profit from Cloud Based HR Solutions: Baiya Intl. Group (N A S D A Q: BIYA)
- Paul E. Saperstein Co. Announces Geographic Expansion of Auction Services
- CMR Mechanical Shares 5 Signs Your AC May Be in Desperate Need for Repair
- Michigan SEO Group Shares 5 Proven Ways to Boost Social Media Engagement for Small Businesses
- Mussio Painting Shares The Benefits of Working with Professional Painters in Ann Arbor
"Michiganders work hard for their money and they do not deserve to be duped by phony promises of big payoffs," Nessel said. "I appreciate the Michigan Department of Licensing and Regulatory Affairs for their assistance with the investigation of this matter."
Roberson was given a $30,000 personal recognizance bond. He is scheduled to appear in court next for a probable cause conference at 8:30 a.m. Oct. 27.
0 Comments
Latest on Michimich.com
- Utah Metal Fabricator Titan Forge Builds Momentum with Custom Steel Projects and Spiral Staircases
- Jason Koch: Pioneering the Future of Real Estate Development in New Jersey
- Bach and Beyond: Cellists Return to the Beach for 2nd Annual Bethany Beach Cellofest
- NR7 Miner launches zero-cost USDT cloud mining service: daily stable income + referral rewards for double profit
- Deaths Spur Closures, but Troubled Teen Camps Must Be Banned, CCHR Warns
- Hillside Terrace Champions Lifelong Learning in Assisted Living
- Veteran Criminal Defense Attorney Offers Strategic DUI Defense and License Reinstatement
- Ann Arbor Criminal Defense Attorney Urges Residents to Be Informed During Police Encounters
- ArborMotion Highlights the Importance of Timely Brake Replacement for European Vehicles
- EASTSIDE GOLF OPENS FIRST U.S. STOREFRONT IN DETROIT
- Palmer Lake Wine Festival To Build Bridges in Small Mountain Community, Highlight Local Businesses
- SacraPod Suites Unveils AI-Powered 'Work + Rest' Smart Hospitality Model for Retrofitting Underused Motels Across the U.S
- From Real Estate to Reel Power: H.L Woods Carves His Legacy as a Cutting-Edge Visionary Filmmaker
- 'Unity Through Christ Music Festival' coming to Detroit Saturday August 9, 2025
- New Release: 'The Invisible Alternative' Unveiled by Atrisk Corporation, Resilient
- Cynthia Pinot Among Artists Selected for Renowned London Art Biennale 2025
- Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
- Top 5 Mistakes Entrepreneurs Make When Applying for SBA Loans
- Michigan Computer Supplies Expands Reach into Livingston County with New Brighton Service Offerings
- $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST