Sandwich man promised guarantee investment returns, Galvin says

Daniel J. McLellan of Sandwich has been charged with defrauding a woman who invested money with him on promises of guaranteed returns, Massachusetts Secretary of State William F. Galvin said Wednesday.

William F. Galvin. File photo. (Pat Greenhouse/Globe Staff)

Attempts to reach McLellan were not successful.


While working at a Jiffy Lube in Mashpee, McLellan met a woman who was having her car serviced, according to a press release from Galvin’s office. At some point, they discussed the stock market, and he allegedly later identified himself as a broker with a nonexistent firm. The woman gave him $50,000, and McLellan “retained a significant percentage” for his own use, Galvin’s administrative complaint alleges. On March 30, McLellan told the woman that he had lost all her money.

Neither McLellan nor his firm were registered to do securities business. McLellan did not respond to two subpoenas issued by the Securities Division, the release said.

The complaint says McLellan “deposited the remaining funds into his personal brokerage account and, primarily as the result of his trading them on margin, subsequently lost the money in the market over a six-month period.”

Chris Reidy can be reached at
Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to 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
Marketing image of