John Gregory Schmidt
This entry summarizes public reporting and government filings. Charges and civil complaints are allegations unless a court has entered a conviction or judgment — check the source for the current status.
- Industry
- Variable annuities / brokerage accounts (broker misappropriation)
- How investors were recruited
- Existing brokerage customers, mostly elderly
- Pitch & red flags
- Elderly clients (some with Alzheimer's) were assured they could keep making withdrawals safely while receiving fake account statements that "grossly overstated" their balances