Recovering Losses caused by Investment Misconduct

Ex-Cop Arrested in Real Estate Investment Fraud Scam

No one is above suspicion for securities fraud scams, it seems. Not even police officers themselves.

A former Los Angeles Police Department (LAPD) detective was charged last week with theft and securities fraud after she supposedly enticed millions of dollars in real estate investment from fellow cops and area residents.

The former cop, 39-year-old Darcey Greenfield, allegedly started investing in real estate in 1994 after first joining the force. Soon, the deals were more than personal as she took money from coworkers and other people, making grandiose claims about returns on investments and what she'd do if a deal went sour.

Unfortunately, Greenfield was unlicensed to sell securities and allegedly broke numerous other laws by making illegal claims and lying to investors. Greenfield now faces 10 felony charges including the sale of false investment securities, the sale of securities without a license, and grand theft.

The fact that Greenfield is an ex-cop has raised the stakes for the prosecution, it seems. "We have to show that we are willing to hammer our own, or no one has any faith in the system," said Vance Welch, the deputy district attorney in charge of the real estate fraud unit.

Bail for Greenfield was set at $1 million after she surrendered to investigators on Wednesday, and she remains in jail after a not-guilty plea.

About our law firm:
The Ohio law firm of David P. Meyer & Associates represents investors in stockbroker mediation, arbitration, and litigation claims. Contact us toll-free at 1.866.429.2360 to learn more about what an Ohio investment fraud lawyer can do for you.