CA executive pleads guilty in $1.8M fraud scheme

Northern CA financial adviser pleads guilty to writing $1.8M in checks from client's accounts

Associated Press

SAN FRANCISCO (AP) -- A Northern California financial adviser has pleaded guilty to charges that he wrote more than $1.8 million in checks from a client's accounts.

The U.S. Attorney's office announced Tuesday that Andorean Boleancu of Napa faces 30 years in prison, a $1 million fine plus restitution after pleading guilty to wire fraud.

The 47-year-old was indicted in July on charges that he forged his elderly, widowed client's name on checks drawn from the victim's brokerage account and home equity lines of credit. The checks were payable to Boleancu's family members, girlfriend, and financial companies where he had credit card accounts.

The victim was Boleancu's client when he held executive jobs at Morgan Stanley & Co. and the wealth management group at Wells Fargo Advisors in San Francisco.

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