Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Maryland Financial Advisor Indicted On Charges Of Money Laundering And Wire Fraud

Travis Wetzel, a 35 year-old financial advisor from Frederick, Maryland, was arrested on charges for transferring over $1.2 million from his client's annuity account between July 2010- September 2012. A grand jury handed down a 24-count indictment charging Wetzel with wire fraud and money laundering.

Wetzel was employed by Research Financial Strategies, of Rockville, MD, as branch operations manager. According to FINRA's BrokerCheck, Travis Wetzel was permanently barred by FINRA and Wetzel was formerly employed by LPL Financial, LLC of Rockville, MD.

Allegedly, Wetzel participated in 18 transfers from his client's account ranging in amounts from $8,000-$40,000. Allegedly, approximately $375,000 of this money was transferred to personal bank accounts Wetzel and his wife controlled.

Travis Wetzel faces a maximum of 10 years in prison for the money laundering charges and another 20 years in prison and $250,000 fine for the wire fraud charges.

Travis Wetzel was previously registered with the following FINRA firms:

LPL FINANCIAL LLC (CRD# 6413) - ROCKVILLE, MD

Soreide Law Group represents their clients nationwide in arbitrations before FINRA. If you've experienced losses through your broker or financial advisor's recommendations, call a Securities Arbitration Lawyer at Soreide Law Group for a free consultation on how to potentially recover those losses: 888-760-6552.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.