A senior financial consultant at Wells Fargo has pled guilty to writing $1.8 million in checks on the accounts of an elderly, widowed client for his personal benefit.
Adorean Boleancu, 47, of Napa, will be sentenced December 17 by Judge Richard Seeborg based on his guilty plea last week to a single count of fraud for dipping into the widow’s brokerage account and using her home equity lines of credit, according to the U.S. Attorney Melinda Haag.
He worked as a Vice President and Senior Financial Consultant in Wells Fargo’s Wealth Management Group.
Boleancu was named in a 14-count indictment in July, alleging he engaged in fraud, money laundering and identity theft. He was accusede of signing the victim’s name to checks drawn on her accounts and made payable to his family members, a girlfriend and another female acquaintance as well as for cash. He also paid his own credit card bills with the funds.
He is currently free on $800,000 bond.
He faces a statutory maximum of 30 years in prison, but a maximum term is unlikely under sentencing guidelines.
Case: U.S. v. Boleancu, No. CR13-444RS