Ladue advisor accused of swindling clients

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by Chris Nagus / News 4

KMOV.com

Posted on February 27, 2013 at 11:20 PM

Updated Wednesday, Oct 30 at 8:43 AM

(KMOV.com) -- A Ladue man entrusted by his clients to manage their financial accounts is now accused of violating their trust. The Missouri Secretary of States Securities Division accuses Gregory John Campbell of making unauthorized transfers in excess of $1.5 million from at least five client accounts.

According to the petition Campbell used client funds for his own benefit including payments on his St. Louis home, a BMW lease, and a home in Boston. Secretary of State Jason Kander tells News 4, “Our office has issued a cease and desist order. He won’t be able to continue this work in Missouri at all.”

Campbell worked at a Merrill Lynch office in Clayton from June 2006 until October of 2011. According to a Merrill Lynch spokesperson Campbell resigned in October 2011. After leaving Merrill Lynch Campbell was hired as a senior wealth manager with Four Seasons Wealth Management, affiliated with LPL Financial in Creve Coeur. An LPL spokesperson tells News 4 it’s their policy not to comment on employees formerly affiliated with LPL. According to Merrill Lynch they are cooperating with law enforcement, and they are working with clients to address any improper activity that may have occurred on their accounts.

According to the petition filed by the Missouri Secretary of State, Campbell is accused of diverting more than a million dollars from an 86 year old client in Florida suffering from dementia. Kander told News 4, “it’s very possible this could end with criminal charges.”

The petition also accuses Campbell of opening accounts for clients without authorization, forging client signatures to open client accounts, using unauthorized addresses in account documents, and providing a client with a false account statement.

If you would like to check on any complaints involving your broker you can search by name at finra.org.

Attempts to reach Campbell at his Ladue home were unsuccessful.

 

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