Detroit-area financial adviser accused of embezzling $3.7M
DETROIT (AP) — Authorities have accused a Detroit-area financial adviser with embezzling roughly $3.7 million from his clients.
The charge was filed as a criminal “information” instead of an indictment, which means that prosecutors and John Maccoll have negotiated a guilty plea. The U.S. Attorney’s Office in Detroit said Maccoll turned himself in Friday and appeared with his attorney for an arraignment.
Maccoll has been charged with wire fraud in connection with theft from his clients at UBS Financial Services in Birmingham. Officials say about a dozen people lost money between 2010 and March of this year as part of the scheme.
The Associated Press left a message late Friday afternoon for defense attorney Rafael Villarruel.