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By Beacon Journal staff report
A Hudson investment adviser and broker has been indicted by a Franklin County grand jury on charges relating to investment fraud.
POSTED: 02:28 p.m. EDT, Jul 31, 2008
Lawrence Nallie, formerly of Columbus, was indicted on 35 felony counts following a referral by the Ohio Department of Commerce's Division of Securities.
Nallie is charged with 11 counts of adviser fund mishandling, nine counts of investment adviser fraud, nine counts of theft, three counts of engaging as an unlicensed investment adviser, two counts of securities fraud and one count of false representations in the sale of securities.
Nallie allegedly mishandled more than $187,000 in funds and securities during and following the time he was licensed.
Nallie was licensed as a securities salesperson from 1996 until 2003 and as an investment adviser representative from 1999 to 2003.
The alleged crimes affected 13 of Nallie's clients, primarily from central Ohio.
Nallie did not appear for a summons June 17 before the Franklin County Municipal Court. He also ignored earlier subpoenas and court orders to testify before the Division of Commerce after four criminal complaints were filed.
Lawrence Nallie, formerly of Columbus, was indicted on 35 felony counts following a referral by the Ohio Department of Commerce's Division of Securities.
Nallie is charged with 11 counts of adviser fund mishandling, nine counts of investment adviser fraud, nine counts of theft, three counts of engaging as an unlicensed investment adviser, two counts of securities fraud and one count of false representations in the sale of securities.
Nallie allegedly mishandled more than $187,000 in funds and securities during and following the time he was licensed.
Nallie was licensed as a securities salesperson from 1996 until 2003 and as an investment adviser representative from 1999 to 2003.
The alleged crimes affected 13 of Nallie's clients, primarily from central Ohio.
Nallie did not appear for a summons June 17 before the Franklin County Municipal Court. He also ignored earlier subpoenas and court orders to testify before the Division of Commerce after four criminal complaints were filed.
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