Former Financial Advisor Sentenced To Five Years In Prison For Fraud

Rockwell had pleaded guilty on January 14, 2021.

According to court documents, Rockwell, a financial advisor, managed investment and retirement accounts for his clients. Beginning in October 2017, Rockwell began to defraud clients and misappropriated his clients’ funds for his own purpose. Rockwell also defrauded a federally insured bank when he applied for two lines of credit, totaling $700,000, in the names of his clients, without their knowledge or permission. Rockwell forged the clients’ signatures on the loan applications and pledged the clients’ assets as collateral for the loans, all without their knowledge or authorization. Rockwell used the funds that he had obtained from the loans for his own use and benefit. 

Furthermore, Rockwell persuaded another client to invest in low-income housing in Florida. However, once the client transferred approximately $400,000 to fund the investment, Rockwell used the money to pay his personal credit cards and to purchase a home.    

This case was investigated by the Federal Bureau of Investigation. It was prosecuted by Assistant United States Attorney Yolande G. Viacava.