A recent lawsuit alleges fraud at Northern Trust. The allegations are that a senior executive stole millions from investors including a woman in her 80s.
The investor’s suit is against Northern Trust concerning its supervision and vicarious liability for the acts of its employees. The lawsuit states, “While marketing itself as a guardian of assets for wealthy families nationwide, [Northern Trust] empowered [the investor’s advisor] Christopher Walters […] over at least ten years to steal millions of dollars from [the elderly investor].”
Walters, a former personal trainer, is alleged to have stolen the funds to finance his own fitness business. He is also accused of using the funds for his personal needs. His Linkedin page identifies himself as the “Second Vice President of Advisory Services” at Northern Trust.
Please call Jeffrey Pederson with all questions concerning alleged advisor fraud or negligence.
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