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> "For over 12 years, Michael Carter perpetrated a brazen scheme that defrauded victim account holders whose investments he was supposed to protect," US Attorne
by js2 6y ago
> "For over 12 years, Michael Carter perpetrated a brazen scheme that defrauded victim account holders whose investments he was supposed to protect," US Attorney for the District of Maryland Robert Hur said in the release.
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> "The Advisor's employment was terminated as soon as his activity came to our attention, and we immediately reported the matter to the appropriate law enforcement and regulatory authorities and have been cooperating with their investigations," the spokesperson said.
12 years! Their fraud detection dept is really on its game.
> In the case of one victim, referred to as Victim 1, Carter admitted he had met the woman at her home and "answered Victim 1's phone in order to authorize the transactions, unbeknownst to Victim 1," as a way of overcoming the financial institution's multifactor verification system, the Maryland court said.
How incredibly brazen, and an attack vector I guess M.S. didn't consider. Geez.