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Financial Advisor Convicted of Stealing from Clients
PHILADELPHIA – Jason Weigand, a 51-year-old financial advisor from Sinking Springs, PA, has been convicted of multiple charges of fraud, money laundering, and identity theft.
Weigand, who served as an investment advisor for nearly 15 years, repeatedly stole money from his clients and went to great lengths to cover up his thefts. He laundered the stolen funds by passing them through a variety of bank accounts and even hacked into one client’s email account and accessed emails between the client and another investment advisor.
The defendant was charged by indictment in October 2017, which was then superseded several times. He was also charged with additional fraud crimes while out on bail awaiting trial, resulting in a second indictment. 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 a 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 Jennifer Arbittier 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.”
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.
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 dealings with them, and not surprisingly, that dishonesty extended through trial. Fortunately, a jury saw through his dishonesty and found him guilty of fraud.”
Mandatory Facts:
- Defendant: Jason Weigand, 51, of Sinking Springs, PA
- Criminal Charges: Multiple counts of fraud, money laundering, and identity theft
- City and State: Philadelphia, PA
- Crime Date: October 2017
- Sentence: Convicted at trial, awaiting sentencing
Criminal Charges:
- Wire fraud
- Mail fraud
- Bank fraud
- Interstate transportation of stolen property
- Unauthorized access to a computer
- Aggravated identity theft
- Money laundering
- Committing offenses while on bail
Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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