April 18, 2017 Comments (0) Blog

David W. Johnson Gets 20 Years in Prison for Felony Theft

David W. Johnson
(Last Updated On: April 18, 2017)

Former Texas Advisor David W. Johnson Sentenced to Prison

Have you suffered losses investing with David W. Johnson of Keller, TX? If so, The White Law Group may be able to help you recover your losses by filing a FINRA Arbitration claim against the brokerage firm where he was employed.

David W. Johnson, 57, was sentenced March 15 to up to 20 years in prison after pleading guilty to felony theft.  From 2012 to 2014 he allegedly took more than $330,000 from seven people, mostly friends and acquaintances. Johnson claimed he was investing the money in a foreign bank that paid high returns.

According to reports, Johnson allegedly deposited it into his own account and used it to support his wife and 10 children and to buy cars.

The court has ordered Johnson to repay the money.

Johnson allegedly used relationships to con people he grew up with and family friends into giving him their money to invest, according to reports. One of his victims was a woman living in a nursing home. He also took money from a farmer and a teacher, among others.

Although Johnson promised to invest the money in safe gold-backed currency, instead he deposited money into his own accounts.

According to FINRA BrokerCheck Johnson was registered with JP Turner & Co. in Keller, TX from 01/05/2010 – 01/09/2012.  He has five disclosure events  listed on his FINRA Broker Report for allegations of unsuitable investments among other things.

Free Consultation

This information is publicly available and  is provided by The White Law Group. If you have suffered losses with an investment and would like a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.

The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit www.whitesecuritieslaw.com.