Investment Adviser Arrested in Nevada for Allegedly Swindling Couple Out of House Profits

magnifying glass on cash - investment fraud
magnifying glass on cash - investment fraud

You finally sold your home in the worst housing market the country has seen in decades, and you're never going to buy another one. You're looking for a safe investment and finally find someone you like to help you.

Time to relax, right? Wrong, if your investment adviser happened to be Richard Bernstein, whom authorities have arrested in Nevada on charges of securities fraud and felony theft.

"Consumers must research carefully any investment opportunity they are considering," said Nevada Attorney General Catherine Cortez Masto in a statement in conjunction with his arrest. "Scammers are only too happy to take money from unwary investors."