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Keith Epstein's Scheme
Keith Lowell Epstein of Farmington Hills, MI comes across as a down to earth trustworthy financial planner. However, this couldn't be further from the truth. He has stolen an estimated $7.4 million from the 12 families that we represent, many of whom are over 65 years old and include one mentally disabled young lady.
In short, Epstein's scheme involves withdrawing substantial amounts of money from clients' investment accounts by sending forged surrender requests. He is able to convince clients to deposit into fraudulent mutual funds and write checks payable to KLE and E&R, both entities controlled by Epstein. Epstein then cashes the checks and keeps the money.
Since the suspension of his license in October, Epstein's new scheme has moved to Florida, convincing clients to give him money which is never invested.
Lawsuits
We currently have there lawsuits in Oakland County against Keith Epstein and others. A FINRA arbitration claim against Epstein's broker, Mutual Service Corporation and Mutual Service is currently pending.
Read our Complaints Against Keith Epstein
> Hentschel et al v Keith Epstein, Epstein Rich & Associates; Ash Brokerage; Mutual Services Corp.; Wayne Stewart; Mark Zurek; et al.
> Koscierzynski v Keith Epstein; Epstein Rich & Associates; Ash Brokerage; John Bonner; Mutual Service Corp.; Wayne Stewart; Mark Zurek; et al.
> Nowicki-True et al v Keith L. Epstein; Epstein & Rich Associates, Inc.; Ash Brokerage Corporation, John E. Bonner; Mary Ann Childs; Tracy Glenn, Donald Mark Zurek, CPA; Mark Zurek, P.C.; Wayne T. Stewart; Wayne Stewart, P.C.
> FINRA Arbitration Claim against Mutual Service Corporation
How We Can Help
Please call us immediately if you believe that you have lost money to Keith Epstein or other financial planners. We would love to discuss with you the different options available in trying to recover your lost investments.
Links
> State of Michigan Office of Financial and Insurance Regulation
> Order of Summary Suspension
> Order to Cease and Desist
> FINRA Suspends Keith Epstein’s Securities License in January of 2009
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