Investment Adviser Admits Stealing $7M

MANHATTAN (CN) – A founder of AFW Wealth Advisers pleaded guilty Monday to stealing more than $7 million from clients. Matthew Weitzman, 43, of Armonk, helped AFW manage more than $190 million through its offices in Purchase, N.Y., and Natick, Mass., federal prosecutors said. He faces up to 5 years in prison and stiff fines at his Jan. 29 sentencing.

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