Authorities say members of the conspiracy sold investments to clients that they misrepresented as annuities and senior secured notes with no risk of loss.
WESTLAKE, Ohio — The fate of a former Westlake financial adviser is now in the hands of a jury.
Closing arguments were held Monday in the case of 50-year-old Raymond Erker, who federal investigators accuse of stealing more than $9.3 million from 54 investors. Authorities say the situation started in January of 2013 and continued through January of 2018.
If convicted, Erker could face more than 20 years in prison.
It comes just a few weeks after one of Erker’s co-defendants – Tara Brunst of Olmsted Falls – pleaded guilty to multiple charges in the case, which include conspiracy to commit mail and wire fraud, mail fraud and three counts of wire fraud.
Another co-defendant – Kevin Krantz of Olmsted Falls – is also accused in the case.
“As part of the scheme, members of the conspiracy sold investments to clients that they misrepresented as annuities and senior secured notes with no risk of loss and with a guaranteed rate of return,”…
