Metro

Boston

Financial adviser faces fraud charge

Advertisement

A Needham woman faces a securities fraud charge in allegedly bilking a client out of $240,000 while working as a financial adviser at Merrill Lynch in Boston, according to court records. Jane E. O’Brien, 59, told an elderly Wellesley woman she was investing in thousands of shares of a New Hampshire-based company, but she was actually taking the money and using it to pay off her mortgage and settle legal fees involving a dispute with another client, according to charges filed Tuesday by the US attorney’s office in Boston in US District Court. O’Brien resigned from the company in 2011 after Merrill Lynch started its own investigation, said Bill Halldin, a spokesman for Merrill Lynch. “These transactions occurred outside Merrill Lynch accounts and were not disclosed to Merrill Lynch management,” he said.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com