Police: Acting as financial advisor, Jeffrey Stoler pockets client's $80,000
The Montgomery Co. man was arrested Thursday.
A man who planned to manage a woman's financial investments ended up embezzling thousands of dollars from her, police said.
Towamencin Township police began investigating Jeffrey Warren Stoler in February after the victim's relatives reported missing money from her funds.
Stoler allegedly entered into a business arrangement with the woman to manage her investments sometime before May 2012, and he was supposed to set up a trust for her, but instead the money was transferred to Stoler's personal account during May and June 2012, according to police.
After not receiving legitimate answers or documentation about the fund transfers, the woman's relatives contacted police, who conducted an investigation.
Stoler, 46, of the 300 block of Manor Road, Harleysville, Montgomery Co., failed to turn himself when police contacted him.
When police got a tip that Stoler was at an address in the 800 block of Cherry Street in Lansdale, police took him into custody Wednesday.
Stoler was arraigned and committed to the Montgomery County Correctional Facility on $100,000 cash bail. He faces charges of theft by deception and theft by deception-false impression.
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