New Jersey Financial Advisor Sentenced to Five Years for Theft of $1.35 Million from His Parents

Hugh R. Hunsinger, Jr., 50, of Pine Brook, New Jersey, a former Paramus financial advisor, was sentenced to five years in state prison for the theft of over $1.35 million from his own parents. Authorities called it, “as offensive as it is reprehensible.”

Hunsinger took a plea deal in August which he surrendered his insurance provider license for five years, and agreed to repay his parents the $1.35 million, although it was unclear how much he can actually repay.

Hunsinger transferred $1,354,496 from accounts that he was managing on behalf of his parents, without their authorization, to his personal accounts between Jan. 31, 2005 and July 8, 2011. He admitted using the money on himself. At the time, Hunsinger was a financial advisor for Lincoln Financial Advisors Corporation in Paramus, NJ.

Hugh R. Hunsinger, Jr., according to FINRA's BrokerCheck, was previously registered with the following FINRA firm(s):

LINCOLN FINANCIAL ADVISORS CORPORATION (CRD# 3978) - PARAMUS, NJ
02/2002 - 11/2011

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (CRD# 2580) - FORT WAYNE, IN
02/2002 - 04/2006

AMERICAN EXPRESS FINANCIAL ADVISORS INC. (CRD# 6363) - MINNEAPOLIS, MN
11/1993 - 12/2001

IDS LIFE INSURANCE COMPANY (CRD# 6321) - MINNEAPOLIS, MN
11/1993 - 12/2001

AMERICAN EXPRESS SERVICE CORPORATION (CRD# 10518) - MINNEAPOLIS, MN
04/1994 - 12/1994

NORTHWESTERN MUTUAL INVESTMENT SERVICES, INC. (CRD# 2881) - MILWAUKEE, WI
03/1992 - 04/1993

PRUCO SECURITIES CORPORATION (CRD# 5685) - NEWARK, NJ
10/1991 - 02/1992

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA (CRD# 680) - NEWARK, NJ
10/1991 - 02/1992

Soreide Law Group represents clients nationwide in arbitrations before FINRA. For a free consultation with an attorney on how to potentially recover your investment losses due to your broker/financial advisor call: 888-760-6552.

Hugh R. Hunsinger, Jr., 50, of Pine Brook, New Jersey, a former Paramus financial advisor, was sentenced to five years in state prison for the theft of over $1.35 million from his own parents. Authorities called it, “as offensive as it is reprehensible.”

Hunsinger took a plea deal in August which he surrendered his insurance provider license for five years, and agreed to repay his parents the $1.35 million, although it was unclear how much he can actually repay.

Hunsinger transferred $1,354,496 from accounts that he was managing on behalf of his parents, without their authorization, to his personal accounts between Jan. 31, 2005 and July 8, 2011. He admitted using the money on himself. At the time, Hunsinger was a financial advisor for Lincoln Financial Advisors Corporation in Paramus, NJ.

Hugh R. Hunsinger, Jr., according to FINRA's BrokerCheck, was previously registered with the following FINRA firm(s):

LINCOLN FINANCIAL ADVISORS CORPORATION (CRD# 3978) - PARAMUS, NJ
02/2002 - 11/2011

THE LINCOLN NATIONAL LIFE INSURANCE COMPANY (CRD# 2580) - FORT WAYNE, IN
02/2002 - 04/2006

AMERICAN EXPRESS FINANCIAL ADVISORS INC. (CRD# 6363) - MINNEAPOLIS, MN
11/1993 - 12/2001

IDS LIFE INSURANCE COMPANY (CRD# 6321) - MINNEAPOLIS, MN
11/1993 - 12/2001

AMERICAN EXPRESS SERVICE CORPORATION (CRD# 10518) - MINNEAPOLIS, MN
04/1994 - 12/1994

NORTHWESTERN MUTUAL INVESTMENT SERVICES, INC. (CRD# 2881) - MILWAUKEE, WI
03/1992 - 04/1993

PRUCO SECURITIES CORPORATION (CRD# 5685) - NEWARK, NJ
10/1991 - 02/1992

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA (CRD# 680) - NEWARK, NJ
10/1991 - 02/1992

Soreide Law Group represents clients nationwide in arbitrations before FINRA. For a free consultation with an attorney on how to potentially recover your investment losses due to your broker/financial advisor call: 888-760-6552.