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Financial Planner Arrested At Financial Planning Seminar For Financial Shenanigans
Photo by Dariush M. via Shutterstock
Police this morning arrested a man in Downey who was giving a financial planning seminar on suspicion that he'd diverted money from an elderly client, resulting in a $125,000 tax bill she wasn't expecting.
Jose Carbajal, 45, was arrested around 11 a.m. at a small financial planning seminar and charged with financial abuse of the elderly.
"The ... woman learned from the IRS that the tax bill resulted from a large monetary transfer associated with her investment account, which was managed by Carbajal, who is an independent financial advisor," a sheriff's spokesman told City News Service. "As the investigation progressed, additional victims were identified, including a Baptist Mission."
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You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
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