A former vice president of Wells Fargo was charged Wednesday with 27 counts of fraud, money laundering and identity theft in a $1.8 million scheme to forge checks on the accounts of an elderly widowed client.
Adorean Boleancu, 47, of Napa, is accused of writing checks for his own benefit on his client’s Morgan Stanley brokerage account and home equity lines of credit that he created, according to a statement by U.S. Attorney Melinda Haag.
The indictment alleges Boleancu made the checks payable to his family, a girlfriend and a second female acquaintance, for cash and for his credit card accounts. He allegedly forged checks for $750,000 and $600,000 payable to his girlfriend, who deposited the money and transferred it to Boleancu, according to the prosecutor.
Boleancu was a former vice president for financial consultation in the wealth management group and before that was a vice president, financial advisor with Morgan Stanley & Co.
Boleancu was released on $800,000 bond after appearing in federal court Wednesday. He was ordered back to court July 23, before U.S. District Judge Richard Seeborg.
The law allows for up to a 30 year prison sentence for each count of bank and wire fraud plus restitution. If convicted, Boleancu would be subject to sentencing guidelines.
Case: U.S. v. Boleancu, No. CR13-444RS
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