Local / Virginia

Former Virginia Beach broker sentenced for wire fraud

NORFOLK, Va. (AP) — A former Virginia Beach broker has been sentenced to more than four years in prison for taking clients’ money.

Jeffrey Scott Davis had pleaded guilty in November 2014 to wire fraud. The Virginian-Pilot (http://bit.ly/1x3Janu ) reports that he was sentenced on Wednesday.

Davis also has agreed to make restitution to Ameriprise Financial.

Davis admitted to taking $192,000 from five clients’ brokerage accounts while working as an independent broker for Ameriprise Financial. He used the money to pay credit card debts.

Assistant U.S. Attorney Alan Salsbury says all five victims were elderly women.

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Information from: The Virginian-Pilot, http://pilotonline.com

 

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