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Swampscott Advisor Sentenced for Stealing $310,000
BOSTON – A Swampscott financial advisor was sentenced to 33 months in prison for defrauding an elderly victim and her bank by stealing her retirement assets. Felix Gorovodsky, 29, was also ordered to pay restitution of $310,492.
Gorovodsky served as a financial advisor for the victim, using her trust to embezzle $250,000 from her bank account and transfer it into his own account. The victim had previously terminated the advisor relationship and revoked the power of attorney she had granted Gorovodsky.
According to court documents, Gorovodsky forged the victim’s signature on a purported “gift letter” to legitimize the fraudulent transfer. He then used the stolen retirement funds for personal expenses, including paying off over $100,000 in federal student loans.
Felix Gorovodsky pleaded guilty to one count of bank fraud on May 11, 2021. His sentencing was carried out by U.S. District Court Judge Denise J. Casper.
Assistant U.S. Attorneys Ian J. Stearns and Mackenzie A. Queenin of the Securities, Financial & Cyber Fraud Unit prosecuted the case, which was investigated by the Federal Bureau of Investigation, Boston Division, with the assistance of the Department of Education, Office of Inspector General.
The case highlights the devastating impact of financial exploitation on vulnerable individuals, particularly the elderly. It also underscores the importance of vigilance in protecting oneself from financial scams and the need for swift action in investigating and prosecuting such crimes.
Acting United States Attorney Nathaniel R. Mendell and Joseph R. Bonavolonta, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division, made the announcement.
Key Facts
- State: Massachusetts
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release â†â€â€
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