Gerald Allen Eaton, Boston Investment Advisor, Pleads Guilty to Stealing Over $3.7 Million in Client Funds

Eaton is accused of stealing money from clients of his investment advisor business. 

gerald-allen-eaton-stealing-client-fundsGerald Allen Eaton is a certified financial planner based near Boston, Massachusetts, doing business under the name Heritage Financial Group. Through Heritage Financial Group, Eaton invested client funds in securities and insurance products, including life insurance policies and annuities. From at least 1999 until October 2019, Eaton is accused of stealing millions of dollars from his clients’ accounts by selling securities, insurance policies, and annuities in the clients’ accounts then sending the proceeds of the sales to his own personal accounts. 


Eaton allegedly forged clients’ signatures on checks and documents or obtained real signatures by misleading the clients about the use of the proceeds, stating that they would be used for the clients’ benefit. In fact, the proceeds were used to pay Eaton’s credit card balances, personal expenditures, and family expenses. Eaton specifically targeted clients that were either elderly or in poor mental/physical condition, as he knew these clients were unlikely to recognize his unethical behavior. 


Eaton pleaded guilty to one count of mail fraud, one count of wire fraud, and one count of aggravated identity theft, but has yet to be sentenced. In a parallel action, the SEC entered an order barring Eaton from the securities industry.


The Sonn Law Group is currently investigating allegations surrounding Gerald Allen Eaton. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.