Edward Jones

LAS VEGAS - Secretary of State Dean Heller today announced that investigators from his Securities Division have arrested former Edward Jones sales representative Vincent Earl Cunningham, 36, on two felony counts of theft and two felony counts of forgery for allegedly pilfering approximately $29,000 from a client's account in January and February of 2003. According to the criminal complaint, Cunningham forged a letter of authorization in order to transfer nearly $15,000 from the joint brokerage account of a Las Vegas mother and son in January 2003. The following month, the defendant is alleged to have forged a second letter of authorization, initiating a transfer of $14,000 from the same client's account. After the accountholders questioned Cunningham regarding the missing funds, he claimed the money was taken for investment purposes and that the investment would return a profit to the client's account. No money was returned. The state maintains that Cunningham gave the misappropriated funds to third parties without the knowledge or consent of his clients. The first transfer assisted a friend of the defendant's in the purchase of a home. The subsequent transfer allowed Cunningham to extend a loan to a Las Vegas businessman. That loan was repaid to the defendant, with interest.

As in all criminal matters, the allegations are merely accusations and individuals are presumed innocent until proven guilty in a court of law. For more information on the Secretary of State's Securities Division, including information on how to better protect yourself from fraud, go to http://secretaryofstate.biz and click on the "Securities" bar. You can also contact the Securities Division at 1-800-758-6440.

Did you lose money investing with Edward Jones?

Contact Information