The Securities and Exchange Commission charged a former UBS Wealth Management Americas broker of defrauding elderly clients—some of whom were legally blind—as part of a five-year Ponzi scheme, the agency announced on Thursday.
According to an SEC complaint, Donna Tucker of Roanoke, Va. stole $730,289 from her clients from January 2008 until April 2013 while she was working at UBS. Tucker allegedly used the money to pay for vacations, three cars, clothing and a country club membership, the SEC said. In order to cover her tracks, Tucker allegedly falsified account statements to mislead clients.
