A former investment advisor who once hosted a financial radio show has been convicted in federal court for participating in an investment scheme to steal $25 million of client assets to fund their criminal enterprise and lavish lifestyles.


Daryl Bank, 51, of Port St. Lucie, Fla., was convicted on Friday of conspiracy, mail and wire fraud, selling unregistered securities, securities fraud and money laundering in U.S. District Court for the Eastern District of Virginia, according to an announcement from the U.S. Attorney for Eastern Virginia.


Bank is alleged to have run an investment fraud scheme for five years between January 2012 and January 2017, based near his Florida home, but also in other locations, including the Tidewater region of Virginia. He targeted more than 300 investors across the country, prosecutors said.

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