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Ex-UBS Broker Donna Jessee Tucker Barred, Convicted of Fraud for Stealing from Elderly in Ponzi-like Scheme

Former UBS Financial Services Inc. investment adviser Donna Jessee Tucker pled guilty to wire fraud and tax evasion in federal court, admitting that she stole up to $1 million from elderly clients. FINRA barred Tucker for refusing to cooperate with its investigation.

In addition to the criminal and FINRA cases, the Securities and Exchange Commission filed a complaint alleging Tucker stole over $730,000 from clients—including $350,000 from a blind couple—through a series of illegal activities, including falsifying brokerage statements, forging checks, and fabricating other documents while using unauthorized margin loans in order to repay earlier accounts in a pattern reminiscent of a Ponzi scheme.

The FBI's case against Tucker states that she misappropriated funds from multiple victims while taking steps to ensure the victims did not learn of the unauthorized transfers and transactions, such as the falsification of documents and e-mail statements.

According to the SEC, Tucker's "elaborate fraudulent scheme" took place from January 2008 through April 2013 and targeted elderly customers who were unable and/or unwilling to use a computer. The SEC alleges that Tucker, knowing that her elderly customers would not use the Internet, ensured that these very same customers only received their monthly account statements electronically.

The findings state that Tucker used the misappropriated funds for personal benefit, including vacations, paying for three vehicles, clothing and a country club membership.

If you have invested with Donna Jessee Tucker or with any broker, investment adviser or other financial professional who has falsified, fabricated, forged or otherwise manipulated and/or prevented access to account statements or similar documents in order to mask theft of funds or other fraudulent activity and this intentional misconduct has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation

Complaint: SEC Civil Action #7:14-cv-00398

Press Release: Former Investment Adviser Pleads Guilty to Wire Fraud, Tax Evasion (FBI)

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
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