Financial Planner Accused of Stealing from Charity, Clients

John Mitty Thursday, October 3, 2013

Drew Morgan, a financial planner working on Long Island, has just been accused of mulitple schemes through which he embezzled money from clients and charities.  According to investigators, Morgan set up a pair of charities to fund CampANCHOR, an organization which offers recreational programs to children and adults, in order to fund his own lifestyle.  He allegedly stole almost $2 million through this scheme, and according to the Nassau district attorney, he used the money to purchase furniture, planet tickets, and other nonessentials for himself.  As treasurer and board member, he stole this money over a five-year period.

This is not the only crime that Morgan is accused of.  The information about the charity embezzlement emerged during another investigation, which revealed that Morgan stole almost half a million dollars from two sisters who had contracted him to work as a financial planner.  Morgan’s lawyer, Gary Farrell, insists that his client had no criminal intent in either of the cases in which he stands accused, but rather lost the money through poor investment choices.  “I think he put charity money in speculative investments and he probably shouldn’t have.  He’d be the first to concede that,” stated the Farrell, answering to his client’s charges.  Morgan was released on bail and is due back in court on the 21st of this month.

jmitty@longislandyellowpages.com

Appears In: Business News

 

 

• Business News
• Education
• Entertainment
• Jobs & Careers
• Local Events
• Local Steals, Deals & More
• Press Releases
• Restaurants & Food
• Sports & Recreation

Columnists John M.   Show all Columnists