Feds Nab Investment Adviser Over $2M Fraud

Law360, New York (October 5, 2010, 1:54 PM EDT) -- Federal authorities on Tuesday arrested a New Jersey-based investment adviser who is charged with bilking investors of more than $2 million to fund his lavish lifestyle with money he claimed to be pouring into conservative securities.

Carlo Chiaese, 38, surrendered Tuesday to FBI special agents in Newark, N.J., and faces a criminal complaint in the U.S. District Court for the District of New Jersey charging him with securities fraud, according to U.S. Attorney Paul J. Fishman.

The complaint, filed Monday, alleges that Chiaese, who had been...
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