Local News

Investment adviser pleads guilty to stealing $1M from clients

Posted September 9, 2009 5:10 p.m. EDT
Updated May 21, 2012 10:01 p.m. EDT

— A Raleigh man who once ran for state treasurer and a seat in General Assembly pleaded guilty Wednesday to stealing more than $1 million from his investor clients.

Christopher Brooks Mintz, 34, pleaded guilty to fraud by an investment adviser. He will be sentenced on Dec. 7.

Mintz worked as a financial adviser in Cary and was a representative of a Boston-based brokerage, where he maintained accounts for his clients and himself, authorities said. Between December 2005 and last October, he embezzled more than $1 million from the brokerage accounts of two elderly clients, authorities said.

"Financial advisers trusted with control over their clients’s property owe those clients great duties of care," U.S. Attorney George Holding said in a statement.

Mintz lost to Rep. Ty Harrell in the 2006 Democratic primary. He also briefly ran for treasurer in 2007 before dropping out of the race.