Suburban Financial Adviser Charged With Swindling Over $2.5M From Elderly Clients

A financial adviser working in the northern suburbs is facing federal charges in connection with the alleged defrauding of at least a dozen investors.

The adviser, 55-year-old Lucita Zamoras, is accused of selling herself as a retirement specialist to draw investments from elderly clients, particularly immigrants, according to a criminal complaint filed by the U.S. Attorney’s Office in Chicago.

Zamoras, who owns a number of companies in north suburban Niles, took the investment money and spent it on personal and business expenses, including gambling costs, payroll expenditures, credit card payments, airline tickets, car payments and utilities, the U.S. Attorney’s Office said.

From 2009 until August of this year, Zamoras defrauded at least a dozen clients of about $2.5 million, prosecutors allege.

Zamoras, of Chicago, was charged with one count of mail fraud, which is punishable by up to 20 years in prison. Arraignment in U.S. District Court hasn’t been scheduled.

Copyright CHIST - SunTimes
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