A Baltimore financial advisor has been sentenced to 42 months in federal prison for stealing $1 million from an elderly client.
Eddy Ray Blizzard, 45, of Havre de Grace, Maryland, was sentenced on April 30, 2024, by U.S. District Judge Stephanie A. Gallagher.
Blizzard, who held licenses as a registered broker and investment adviser, stole the money from client R.M. over a period of several years. R.M., a 75-year-old resident of Maryland, entrusted Blizzard with his life savings after retiring from a successful career as an air conditioning technician.
According to the plea agreement, Blizzard began working at Bank 1 in 2003, shortly after R.M. began investing there. Blizzard convinced R.M. to leave Bank 1 and become his full-time financial advisor, but instead of going independent, Blizzard continued to work out of the bank’s branch in Catonsville, Maryland.
Blizzard’s scheme involved meeting with R.M. in his car, rather than the office, and asking for signed blank checks. R.M. gave Blizzard 15-20 signed blank checks, which Blizzard used to fill in and steal from R.M.’s account.
Special Agent in Charge William J. DelBagno of the FBI’s Baltimore Field Office condemned Blizzard’s actions, saying, “Eddy Blizzard deserves every year he will spend behind bars. His cruel and calculated scheme went on for years and his brazen deception caused great harm to the victim and his family.”
The FBI and its law enforcement partners vowed to continue investigating and pursuing those who target vulnerable individuals in Maryland.
Blizzard’s sentence includes two years of supervised release. The Financial Industry Regulatory Authority (FINRA) had licensed Blizzard to operate as a registered broker and investment adviser.
Blizzard’s employment history included stints at Bank 1, a bank securities company, from 2003 to 2014, and Bank 2, a bank investment services company, from 2014 to 2017, both in Maryland.
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Key Facts
- State: Maryland
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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