In Focus
November 1, 2002
eet Douglas Stolba, 55 years old, a registered representative with ING Financial Advisers. He was the president of Focused Retirement Planning in Minnesota. He recently was charged with mail fraud in connection with the disappearance of $5.5 million in client money. Some say the number is in the tens of millions of dollars.
The scheme is becoming all too familiar: bogus account statements sent to trusting clients; representations of profit; and depositing customer funds into Mr. Stolba's own account.
ING Financial's investigation came too late to prevent yet another large scale theft of customer funds.
— James J. Eccleston
FinancialCounsel.com
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