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Relatives, Veterans, and the Elderly Were Alleged Victims of Investment Fraud

Posted on Jun 19, 2011

In 1990, Edward Moskop lost his registration as a securities broker after allegations were made that he used $30,000 of client money for his own personal use rather than investing it.

In November 2010, the U.S. Securities and Exchange Commission sued Mr. Moskop alleging that he misappropriated $300,000, which was most of the life savings of an elderly Illinois couple.

Just last month, Edward Moskop was once again facing allegations of wrongdoing. In May 2011, federal charges were filed against Mr. Moskop that claim he took $2.4 million from about two dozen investors, including military veterans and his own relatives. The government alleges that Mr. Moskop hid the fact that he was no longer allowed to invest for others when he took money from these 25 investors. It is also alleged that he provided fake receipts and statements related to their accounts.

A federal judge has issued a temporary restraining order to prevent any possible future fraud and has frozen the assets of Mr. Moskop and his company Moskop & Associates.

Mr. Moskop's first court appearance on the May 2011 charges is currently scheduled for June 6, 2011.

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