ALEXANDRIA, Va. (DC News Now ) — A man was sentenced last week to three years in prison after misleading victims into loaning him money by acting as a financial advisor, costing them millions in losses.
Andrew Corbman, 53, had a history of poor financial trading performance, the U.S. Attorney’s Office (USAO) detailed.
In 2016, he was barred by the Financial Industry Regulatory Authority from acting as a financial advisor, and the previous year, he filed for bankruptcy. Despite his financial woes, Corbman gained access to individuals interested in estate planning, trusts and more through a national estate planning company.
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Through this affiliation, Corbman was able to convince six people to use him to invest their money, with hopes that he would gain them a large return. While boasting of his financial success, Corbman misrepresented his investment results, providing a fraudulent document of what he claimed were his 2021 investment results…