Financial

Loves Park financial advisor charged with stealing $950K from customers


Posted: Sep 28, 2021 / 03:49 PM CDT / Updated: Sep 28, 2021 / 03:51 PM CDT

LOVES PARK, Ill. (WTVO) – Nassem Salamah, 40, a Loves Park investment advisor, has been charged with defrauding his customers of more than $950,000.

Salamah is accused of stealing the money from three of his customers between August 2017 and May 2021, according to a criminal charge filed by the U.S. Department of Justice.

According to the criminal information filed, Salamah told the customers that he needed to move their money to diversify their assets, when in reality he deposited the money into a bank account that he controlled. Salamah proceeded to use the money for his own benefit, without the customers’ knowledge or consent.

Salamah will be arraigned on a date yet to be determined in U.S. District Court in Rockford. Salamah faces a maximum potential penalty of up to 20 years in prison.

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Salamah will be arraigned on a date yet to be determined in U.S. District Court in Rockford. Salamah faces a maximum potential penalty of up to 20 years in prison.

Source: https://www.mystateline.com/news/local-news/loves-park-financial-advisor-charged-with-stealing-950k-from-customers/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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