Annapolis financial adviser charged with $2.3M fraud

February 09, 2010

An Annapolis mortgage broker and financial adviser has been charged with using more than $2.3 million of his clients' money to play the stock market, according to filings by the U.S. Securities and Exchange Commission and the U.S. attorney's office. David W. Wehrs, 54, owner of Maryland Title and Escrow Co., was charged this month in U.S. District Court in Baltimore in connection with a scheme to defraud investors and financial institutions of about $2.3 million. Wehrs, who faces up to 20 years in prison if convicted, could not be reached for comment

- Edward Gunts

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