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Date: 10-01-2020
Case Style:
Case Number: 1:20-cr-10173-DPW
Judge: Douglas P. Woodlock
Court: United States District Court for the District of Massachusetts (Suffolk County)
Plaintiff's Attorney: United States District Attorney�s Office, Boston, Massachusettes
Defendant's Attorney:
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Description: Boston, Massachusetts criminal defense lawyer represented defendant charged with mail fraud.
An Acton man pleaded guilty in connection with a long-running scheme to steal money from clients of his investment advisor business, in which he fraudulently obtained more than $3.7 million from more than 20 clients.
Gerald Allan Eaton, 51, pleaded guilty to one count of wire fraud, one count of mail fraud and one count of aggravated identity theft.
Eaton was a certified financial planner, doing business under the name Heritage Financial Group, with an office in Acton. In that capacity, Eaton invested his clients� funds in securities and various insurance products, including life insurance policies and annuities. From at least 1999 through October 2019, Eaton stole millions of dollars from clients� accounts. He did so primarily by selling securities, insurance policies and annuities in clients� accounts, and causing the proceeds to be sent to accounts he owned or controlled.
As part of his scheme, Eaton forged clients� signatures on checks and documents, or caused clients to sign documents by falsely representing that the proceeds of transactions would be used for the clients� benefit. Eaton also falsely represented to the brokerage firm with which he was affiliated, and to insurance companies, that the transactions he requested on his clients� behalf were for the benefit of those clients. In fact, Eaton caused proceeds to be sent to his own credit card accounts to pay his personal and family expenses, and to his home equity line of credit. In order to avoid detection, Eaton defrauded clients he knew were unlikely to notice what he had done, either because they were elderly or in poor mental or physical condition.
The charges of mail and wire fraud provide for a sentence of up to 20 years in prison, three years of supervised release and a $250,000 fine or twice the gross gain/loss, whichever is greater. The charge of aggravated identity theft provides for a mandatory sentence of two years in prison to be served consecutive to any other sentence imposed, one year of supervised release, a fine of $250,000 and restitution. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors.
In a parallel action, the Securities and Exchange Commission (SEC) entered an order barring Eaton from the securities industry based on the same conduct.
United States Attorney Andrew E. Lelling and ������������Joseph W. Cronin, Inspector in Charge of the U.S. Postal Inspection Service made the announcement today. Assistant U. S. Attorney Jordi de Llano, Deputy Chief of Lelling�s Securities, Financial & Cyber Fraud Unit, prosecuted the case.
18 U.S.C. � 1343- WIRE FRAUD
(1)
18 U.S.C. � 1341- MAIL FRAUD
(2)
18 U.S.C. � 1028A- AGGRAVATED IDENTITY THEFT
(3)
Outcome: 09/30/2020 9 Electronic Clerk's Notes for proceedings held before Judge Douglas P. Woodlock: Waiver of Indictment and Plea to Information as to Gerald Allan Eaton held on 9/30/2020 by videoconference. Court has colloquy with defendant about his right to be present in open Court. Court finds defendant knowing and willing waives his right to be physically present. Defendant enters plea of guilty to Counts 1-3 of the Information. Court finds factual basis, the plea is accepted and entered by Gerald Allan Eaton (1) Count 1,2,3. Defendant released on personal recognizance and conditions. Court orders defendant to report to the US Marshal's office for processing within the next 14 days. Sentencing set for 1/26/20 at 2:30PM.(Attorneys present: Jordi diLlano for the Government. Cory Flashner and Edmund Daley for the defendant.)Court Reporter Name and Contact or digital recording information: Kelly Mortellite at mortellite@gmail.com. (Hourihan, Lisa) (Entered: 09/30/2020)
09/30/2020 10 Judge Douglas P. Woodlock: ORDER entered. PROCEDURAL ORDER re sentencing hearing as to Gerald Allan Eaton Sentencing set for 1/26/2021 02:30 PM in Courtroom 1 before Judge Douglas P. Woodlock. (Hourihan, Lisa) (Entered: 09/30/2020)
09/30/2020 11 Judge Douglas P. Woodlock: ENDORSED ORDER entered re 8 Waiver of Indictment as to Gerald Allan Eaton. (McDonagh, Christina) (Entered: 09/30/2020)
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