| Financial Advisor Steals $1.9m to Fund Gambling Addiction |
| Written by Mark Bennett |
| Sunday, 10 July 2011 18:22 |
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A US financial advisor stole $1.9m from clients to fund his gambling addiction a court has been told. Daniel J. Trolaro, 35, from New Jersey pleaded guilty to stealing $1.9 million in client money and lost most of it gambling. Most of the victims of the theft were local residents in the area. The offences occurred from 2008 to 2010 and clients lost between $46,000 and $910,000 each. Trolaro was a licensed insurance producer, securities dealer and certified financial planner who worked for Prudential Insurance Company of America's agency in East Hanover, N.J. The company has since reimbursed all the victims of the fraud. Trolaro is due to be sentenced on 19th August and the recommendation is 10 years in a state prison.
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