American Military News by Matthew Enuco - nj.com April 17, 2024
A New Jersey financial counselor and U.S. Army reservist admitted to defrauding Gold Star families who received death benefits after their family members died serving in the military, U.S. officials said Tuesday.
Caz Craffy, 41, of Colts Neck, plead guilty to six counts of wire fraud, one count of securities fraud, making false statements on a loan application, committing acts affecting a personal financial interest and making false statements to a federal agency.
Between May 2018 and November 2022, Craffy collected more than $9.9 million from Gold Star families to invest through accounts he managed in his private capacity and made trades without prior consent which violated both financial firms’ policies, officials said.
Craffy earned over $1.4 million in commissions for the unauthorized trades, authorities said, which resulted in losses totaling more than $3.7million.
More:
https://americanmilitarynews.com/2024/04/nj-financial-counselor-defrauded-gold-star-families/
