Former financial advisor from Berks County convicted of fraud, money laundering for scheme to steal from clients

United States Attorney Jennifer Arbittier Williams announced that Jason Weigand, 51, of Sinking Spring, was convicted at trial on thirty counts involving multiple charges of fraud, money laundering and identity theft arising from his elaborate scheme to steal money from his own financial advisory clients.

In October 2017, Weigand was charged by Indictment, which was then superseded several times. Further, while Weigand was out on bail awaiting trial, he committed additional fraud crimes, which resulted in a second indictment.

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Weigand was ultimately charged with thirty counts involving multiple counts each of wire fraud, mail fraud, bank fraud, interstate transportation of stolen property, unauthorized access to a computer, aggravated identity theft, money laundering, and committing offenses while on bail.

“Weigand has proven himself to be serial fraudster with no respect for the law or the fiduciary obligations of a financial advisor, and today a jury agreed,” said U.S. Attorney Williams.

“Rather than serving his clients, he served himself. Prosecuting financial fraud, and thereby safeguarding innocent investors who stand to lose everything, will always be a priority for this Office.”

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During the nearly 15 years that he served as an investment advisor and proclaimed himself a knowledgeable and reputable source of investment advice, Weigand repeatedly stole money from his clients and went to great lengths to cover up his thefts. Weigand laundered the stolen funds by passing them through a variety of bank accounts, and he even hacked into one client’s email account and accessed emails between the client and another investment advisor.

“With today’s guilty verdict, Jason Weigand’s victims may finally find some closure on their abuse at the hands of this serial fraudster,” said Postal Inspector in Charge of the Philadelphia Division Damon Wood.

“Mr. Wiegand was dishonest in his dealing with them, and not surprisingly, that dishonesty extended through trial. Fortunately, a jury saw through his dishonesty and found him guilty of fraud. Postal Inspectors, picking up the work of investigators from the Pennsylvania State Department of Banking and Securities, along with prosecutors from the United States Attorney’s Office, saw this investigation through seven years of delays, a pandemic, continued criminal conduct by the defendant, and a nearly three-week trial. I applaud the tireless efforts of the investigators and prosecutors on this case.”

The case was investigated by the United States Postal Inspection Service and the Pennsylvania State Department of Banking and Securities, and is being prosecuted by Assistant United States Attorneys Paul G. Shapiro and Christopher J. Mannion.

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