SEC charges wedding singer in $4.7 million fraud case
An Oklahoma-based wedding singer and former financial adviser has been accused by the Securities and Exchange Commission for swindling clients that gave him a total of least $4.7 million to invest for them.
August 29, 2013 at 09:40 AM
2 minute read
The original version of this story was published on Law.com
An Oklahoma-based wedding singer and former financial adviser has been accused by the Securities and Exchange Commission (SEC) for swindling clients that gave him a total of least $4.7 million to invest for them.
The complaint, which was filed on Aug. 27 in the U.S. District Court in Tulsa, Okla., alleges that Larry J. Dearman, Sr. invested his clients in various businesses that his close friend, Marya Gray, owned in nearby Bartlesville.
According to the SEC complaint, from December 2008 to August 2012, Dearman and Gray misled investors about the safety of the investments and how their funds would be used, telling them, for example, that investor funds would be used to purchase equipment for one of Gray's companies, Bartnet Wireless Internet, Inc.
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