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Articles Tagged with Mutual of Omaha

Barred Mutual of Omaha Broker Edward Matthes Gets Over 5 Years in Prison For Investor Fraud

Published on: June 17, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Ex-Wisconsin Financial Advisor Bilked 27 Victims of $2.6M, Many of Them Older Investors

Edward Earl Matthes, an ex-Mutual of Omaha Investor Services broker, is sentenced to 63 months behind bars for defrauding over two dozen investors, most of them older customers, in a $2.6M investment scam. He had pleaded guilty to multiple counts of wire fraud.

Matthews was also the subject of a parallel Securities and Exchange Commission (SEC) lawsuit last year that ordered him to pay those he harmed $2.4M in restitution. The regulator permanently barred him from the industry.

Shepherd Smith Edwards and Kantas Investigates Barred Mutual of Omaha Broker Edward Matthes

Published on: February 3, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Edward Matthes, Ex-Stockbroker Accused of Elder Investor Fraud

The US Securities and Exchange Commission (SEC) is accusing former broker, Edward Matthes of defrauding older investors of $2.4M. Matthes was a registered stockbroker and an investment advisor. The Financial Industry Regulatory Authority (FINRA) and the Wisconsin Department of Financial Institutions Securities Division have both permanently barred him.

The Federal Bureau of Investigation (FBI) opened a probe into his alleged actions last year. Matthes was a registered Mutual of Omaha broker from 2012 – 2019 which was when the firm fired him. He worked in the industry for 20 years.