Claus Foerster Indicted for $2.8M Fraud-Spartanburg, S Carolina

Claus Foerster Indicted for $2.8M Fraud-Spartanburg, S Carolina

Claus Foerster Indicted for $2.8M Fraud-Spartanburg, S Carolina 150 150 Robert Rex, Esq.

March 2016

The US Attorney’s Office for District of South Carolina announced that Claus C. Foerster, age 55, of Spartanburg, South Carolina was charged in a 5 count indictment with wire fraud.  Maximum penalty is 20 years imprisonment and a fine of $250,000.

Foerster, touting a non existent company, SG Investments,  allegedly defrauded clients of $2.8 million while employed by Smith Barney, Morgan Keegan and Raymond James from 2000-2014.

Foerster was barred from the securities industry in June 2014.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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