Seattle Financial Advisor Indicted in $46 Million Investment
Former Head of the National Association of Personal Finance Advisors Diverted Client Funds to His Own Risky Start-Up Ventures
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A long-time Seattle financial advisor was indicted today by a federal grand jury with 23 criminal counts, including wire fraud, money laundering and investment advisor fraud, announced U.S. Attorney Jenny A. Durkan. Mark F. Spangler, 57, of Seattle is accused of diverting investor money from accounts he managed to risky start up ventures in which he or his investment firm had an ownership interest. Spangler allegedly diverted more than $46 million to two companies, one of which is now shut down after failing to generate any positive revenue. |




