Business

Ex-Broker Faces Sentencing For Stealing From Clients

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(credit: AP)

(credit: AP)

BRIDGEPORT, Conn. (AP) – A former Connecticut securities broker faces sentencing for stealing more than $1.35 million from his clients.

Gregory Buchholz of Bridgewater is scheduled to be sentenced Monday in federal court in Bridgeport. He pleaded guilty to wire fraud.

Prosecutors say the 45-year-old Buchholz liquidated clients’ annuities and mutual funds and kept the proceeds while working at Raymond James Financial Services.

They say he forged clients’ names, claimed he was reinvesting their money or told other lies to placate them.

Attorney Thomas Seigel has said Buchholz deeply regrets his actions. Seigel and prosecutors emphasized that Raymond James was not implicated, immediately fired Buchholz and is reimbursing investors.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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