Delores J. Mosier, Mail Fraud, Illinois 2023

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Table of Contents

Chicago Financial Advisor Pocketed $4.2 Million in Phony Investments

A Chicago-based financial advisor has pleaded guilty to pocketing her clients’ money after counseling them to purchase phony securities, according to a federal court plea agreement.

Delores J. Mosier, 72, of La Porte, Ind., pleaded guilty to one count of mail fraud, admitting in the plea agreement that she advised her clients to invest in bogus debt securities purportedly called “Chicago Anticipatory Notes.”

Mosier falsely represented that the notes were issued by the City of Chicago and would earn annual interest of 7% or higher, according to the plea agreement. The securities did not exist, and Mosier pocketed the investment money, the plea agreement states.

The government contends that Mosier fraudulently obtained more than $4.2 million from approximately nine victims, who were lured by Mosier’s promise of high returns on their investments.

Mosier, a licensed financial broker and investor who operated Chicago-based D.J. Mosier and Associates Inc., used some of the money to make purported interest payments to other victims who had also purchased the fictitious notes.

She attempted to make the scam appear legitimate by providing the victims with fraudulent documents that she created, including fictitious disclosure statements, phony quarterly interest statements, and bogus balance statements that purported to reflect the clients’ growing investment proceeds.

Mosier concealed the scheme by using the bank account titled “CAN” to deposit the clients’ checks and use the money for her own benefit, including purchasing household expenses and making mortgage payments on a property in La Porte, Ind.

U.S. District Judge Gary Feinerman scheduled a sentencing hearing for Aug. 12, 2016, at 9:30 a.m. Mosier faces a maximum sentence of 20 years in prison and a maximum fine of $250,000 or twice the gross gain or gross loss resulting from the offense, whichever is greater.

The guilty plea was announced by Zachary T. Fardon, United States Attorney for the Northern District of Illinois; and Michael J. Anderson, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation.

The government is represented by Assistant U.S. Attorney Yusef Dale.