KRAIG GIER Pleads Guilty to $1M Theft from Elderly

KRAIG WILLIAM GIER (KRAIG GIER) CRD#: 2475869, a former financial advisor from Independence, Missouri, pleaded guilty to two counts of wire fraud in the US District Court for the Western District of Missouri.  Gier admitted stealing more than $1 million from two of his elderly clients according to news reports.
According to the STL News, “A trusted financial advisor greedily preyed on two unsuspecting elderly clients to illegally enrich himself,” said U.S. Attorney Tim Garrison.  “It’s criminal, but even more contemptible when those granted positions of trust take advantage of vulnerable victims, such as their elderly clients.”
KRAIG GIER, 59 years-old, who operated Security Planning Corporation, according to news reports, admitted to stealing the money from his 96 and 84-year-old clients. Gier withdrew money from their accounts between February of 2015 and July of 2018.  Gier then deposited the money into his own personal and business accounts.
KRAIG GIER also admitted to falsifying documents which showed profits in the clients’ accounts even though he had significantly depleted their accounts, and forging the elderly clients’ signatures, including a voided fraudulent check used for withdrawals, according to the news reports. Geir could face up to 20 years in prison for each of the two counts of wire fraud. A sentencing hearing will be scheduled after the presentence investigation by the United States Probation Office.
According to FINRA’s BrokerCheck, KRAIG GIER, has no disclosures on his CRD report.  Gier had been registered in the securities industry for 19 years and was listed with two firms:
01/01/2002 - 07/10/2013  BROOKLIGHT PLACE SECURITIES INC - INDEPENDENCE, MO
06/09/1994 - 01/01/2002  IAC SECURITIES INC - TINLEY PARK, IL
If you or an elderly family member have suffered losses due to the actions or recommendations of KRAIG GIER of Security Planning Corporation in Independence, Missouri, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on contingency fee and represents clients nationwide before FINRA.