Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

Financial Advisor in Maryland Pleads Guilty to Defrauding Elderly Client

Posted on January 18th, 2024 at 1:12 PM
Financial Advisor in Maryland Pleads Guilty to Defrauding Elderly Client

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï 

Financial advisor Jeffrey A. Blizzard has pleaded guilty to bank fraud, facing a potential 30-year federal prison sentence.

Blizzard exploited an elderly retired client, referred to as "R.M.," who lacked literacy skills despite having over $1 million in retirement savings. Blizzard, who initially worked for M&T Securities and later claimed to go independent, maintained monthly meetings from his car with R.M., during which he drained the client's accounts.

As reported by Financial Advisor News, R.M. believed his retirement funds were safely invested, and his mortgage was being paid. Blizzard's fraudulent activities came to light in August 2019 when R.M. discovered the deception while attempting to withdraw funds for a family vacation. Following a suicide attempt, Blizzard confessed to never investing R.M.'s assets but redirecting them to his own account, totaling $1.2 million in withdrawals and $848,000 in written checks. Despite Blizzard's claims of covering R.M.'s mortgage, the victim's house faced foreclosure in the fall of 2019. R.M. passed away on March 20, 2020.

As part of his plea deal, Blizzard will pay restitution of at least $1,030,000 plus $848,000 in the form of a monetary judgment. Sentencing will begin in April 2024.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. ÍøÆØ³Ô¹Ï will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

1783434190 Law
July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.