Eddy Blizzard, Bank Fraud, Maryland 2023

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Eddy Blizzard, 45, Pleads Guilty to Stealing $1 Million from Elderly Client’s Retirement Account

Baltimore, Maryland – Eddy Blizzard, a 45-year-old financial advisor from Perry Hall, Maryland, pleaded guilty today to bank fraud in connection with a scheme in which he embezzled approximately $1 million from an elderly client’s retirement account.

The guilty plea was announced by United States Attorney for the District of Maryland Erek L. Barron; Acting Special Agent in Charge R. Joseph Rothrock of the Federal Bureau of Investigation, Baltimore Field Office; and Southeast Region Special Agent in Charge Edwin Bonano of the Federal Housing Finance Agency, Office of Inspector General.

“This defendant perpetrated a heartless scheme that preyed on a vulnerable elderly victim, stealing more than a million dollars,” said United States Attorney Erek L. Barron. “We will continue to work with our law enforcement partners to bring to justice those who engage in these despicable schemes targeting elderly victims. I encourage anyone who believes they may be a victim of financial fraud to contact the Elder Fraud Hotline at 833-FRAUD-11 (833-372-8311).”

According to his plea agreement, Blizzard held several licenses that allowed him to operate as a registered broker and a registered investment adviser per the Financial Industry Regulatory Authority (“FINRA”). From 2003 to 2014, Blizzard was employed by a bank securities company (Bank 1) and from 2014 to 2017 he was employed by a bank investment services company (Bank 2), both in Maryland.

The victim, a 75-year-old man from Maryland, had attended school through the ninth grade and had a successful career as an air conditioning technician. He sought investment advice from Bank 1, where he had his depository accounts, and Blizzard began working at the bank shortly after. Blizzard admitted that he told the victim that he “went out on his own” and asked him to leave Bank 1 and use him as a full-time financial advisor, but he never went to work as an independent financial advisor.

Blizzard began asking the victim for signed blank checks, and the victim gave him 15-20 signed blank checks. Blizzard filled in the remaining information to include the payee, the amount, the date, and detailed memo section, but the victim did not know what the checks were for. When the victim received the cancelled checks in the mail, he knew Blizzard had written them out because R.M. would never have written checks out to himself.