Military Monetary Advisor Modified With Defrauding Gold Star Households

To state one thing that ought to be apparent: defrauding anybody is a foul concept from each a authorized and an ethical perspective. Defrauding somebody who’s lately skilled the lack of a member of the family is even worse. Sadly, a New Jersey man is now accused of doing simply that, dealing with prices that he used his place as a monetary advisor for the U.S. Military to defraud Gold Star households.

An article at NJ.com has extra particulars on the case. Caz Craffy now faces federal prices together with, however not restricted to, six counts of wire fraud. Craffy is accused of taking hundreds of thousands of {dollars} from two dozen households through the years.

In a press release, Lawyer Normal Merrick Garland spoke out towards Craffy within the harshest doable phrases. “As alleged within the indictment, the defendant on this case used his place as an Military monetary counselor to defraud Gold Star households, steal their cash, and enrich himself,” Garland mentioned. “Predatory conduct that targets the households of fallen American service members can be met with the total pressure of the Justice Division.”

In keeping with the Justice Division’s assertion, Craffy labored for a pair of funding corporations with out notifying his superiors within the Military, and used his place to direct the cash that the Gold Star households had obtained upon the deaths of their members of the family to accounts that he managed. Between 2018 and 2022, Craffy allegedly invested $9.9 million from Gold Star households into these accounts.

“No household, particularly our Gold Star households, ought to must face additional heartache after a beloved one’s demise by having their monetary safety ripped out from below them by fraudsters,” mentioned Homeland Safety Investigations Newark Particular Agent in Cost Ricky J. Patel in a press release.

Craffy was anticipated to make his first look in courtroom on Friday. In keeping with reporting by the New York Instances, the Securities and Alternate Fee additionally filed a civil criticism towards him.