On November 13, 2025, a federal jury in convicted investment advisors and twin brothers Adam and Daniel Kaplan of wire fraud conspiracy, wire fraud, investment advisor fraud, and money laundering conspiracy.
The jury also found Adam Kaplan guilty of another count of conspiracy to commit wire fraud, bank and wire fraud conspiracy and money laundering. The two also attempted obstruct justice by threatening witnesses and attempting to bribe officials. The federal verdict was after an eight-week trial before United States District Court in Central Islip, NY.
The US Attorney stated, “With today’s verdict, Adam and Daniel Kaplan stand convicted of stealing millions of dollars from […] elderly and disabled [clients], who trusted the [the Kaplans].” The actions were so egregious the prosecutor described them as “ruthless thieves.” Further, “Adam Kaplan is facing additional, very serious consequences for […] attempting to threaten victims and witnesses and bribe Department of Justice officials.”
The crime is especially heinous due to the fiduciary capacity the Kaplans stood in relationship with their clients. Registered investment advisers, such as the Kaplans, are statutory fiduciaries and required to put their clients’ needs above their own.
Jeffrey Pederson represents investors and has been doing so for over 20 years. Call for a free and confidential consultation.
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