February 2018-Ft. Lauderdale , Florida
Former NEXT Financial Group broker Heidi Wivolin has agreed to plead guilty to an Information filed by US Attorney’s Office to the following:
- One count of Conspiracy to Commit Mail Fraud
- One count of Willfully Filing a False Income Tax Return for 2010, and
- One count of Tax Evasion for 2011
In the Factual Agreement entered into with the government, Wivolin agrees that had the case proceeded to trial the government would have proven certain facts, beyond a reasonable doubt, including:
- Wivolin marketed securities and investment services to Finnish clients
- Between July 2008 through January 2014 Wivolin and co-defendant Shawn O’Sullivan devised a scheme to defraud a customer by purporting to sell a bond and promising a 7% rate of return
- Wivolin never invested any of the money in a bond or other investment vehicle
- Wivolin and O’Sullivan took the customer’s money and used it for their personal and business expenses
- Wivolin continued to perpetuate the illusion that the customer’s money had been invested by verbal assurances and by sending false and fraudulent statements.
Statutory maximum sentences are 20 years for mail fraud, 3 years for filing a false tax return and up to five years for tax evasion. Sentencing is set for May 2, 2018.
Wivolin has agreed to pay restitution to a person referred to as “M.W.” in court pleadings in the amount of $190,280.51 and restitution to the Internal Revenue Service in the amount of $140,069. Wivolin also agrees to make restitution to a person referred to as “P.M.” in the plea agreement in the amount of $2,567,585 for wire fraud against P.M. in year 2012 and 2013. USA vs Heidi Wivolin, Case 9:18-cr-80023-WPD, United States District Court, Southern District of Florida.
Wivolin was a stockbroker registered with NEXT Financial Group from 2009-2014.
Pasi Martin, et al vs. NEXT Financial Group– As we have previously reported, Dickenson Murphy Rex & Sloan and co-counsel Mrachek, Fitzgerald, Rose, Konopka, Thomas & Weiss represent a group of Finnish individuals and companies who allege that millions were stolen from them by Wivolin while she was employed at the NEXT Financial Group office that was previously located in Manalapan, FL.
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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