Ex-Army Finance Counselor Swindled Gold Star Families, U.S. Says
A former U.S. Army financial counselor used his position to bilk two dozen dead service members’ families out of life insurance and other benefits by steering them to investments on which he was secretly reaping hefty commissions, federal prosecutors said on Friday.
The former counselor, Caz Craffy, was charged with wire and securities fraud and other crimes for what prosecutors said was a scheme that cost the Gold Star families — immediate relatives of service members who died while serving — $3.4 million in investment losses and $1.4 million in commissions collected by Mr. Craffy.
“Stealing from Gold Star families whose loved ones made the ultimate sacrifice in service to our nation is a shameful crime,” Attorney General Merrick B. Garland said in a statement.
In addition to the criminal charges, Mr. Craffy faces a civil complaint filed by the Securities and Exchange Commission.
Source: The New York Times
