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Feds Indict Broker For Stealing $3M From Senior NJ Clients To Gamble, Buy Home, Gold Coins Feds Indict Broker For Stealing $3M From Senior NJ Clients To Gamble, Buy Home, Gold Coins
Feds Indict Broker For Stealing $3M From Senior NJ Clients To Gamble, Buy Home, Gold Coins A disgraced former broker and investment advisor is now under federal indictment for stealing more than $3 million from clients that authorities said he used to gamble and buy gold coins and a new house in Bergen County. Kenneth A. Welsh, 42, of River Edge, "used his position as an investment advisor to gain the trust of his victims," U.S. Attorney Philip R. Sellinger said. "(He) then exploited that trust,” Sellinger said. Welsh was working at Wells Fargo Clearing Services in Fairfield when federal authorities said he began shifting money from clients' accounts to that he controlled in Ju…

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by Jerry DeMarco