May 13, 2019 Comments (0) Blog, Current Investigations

Thomas Lagan Pleads Guilty to Grand Lareceny

Thomas Lagan Pleads Guilty, Featured by Top Securities Fraud Attorneys, The White Law Group

Thomas Lagan – Mercer Allied Co. – Albany, NY

Have you suffered losses investing with Thomas Lagan in Albany, New York? The securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution Claim.

According to news reports on May 1, Thomas Lagan, financial advisor and lawyer, has reportedly pleaded guilty to stealing $9 million from Capital Region philanthropists. Thomas Lagan reportedly pleaded guilty to grand larceny.

The New York Attorney General indicted Thomas Lagan in July 2018 for allegedly stealing more than $9 million from family trust clients according to reports.

Lagan purportedly offered legal and estate planning services to philanthropists Warren and Pauline Bruggeman and Pauline Bruggeman’s sister, Anne Urban, according to the complaint.

According to reports, Lagan allegedly failed to return $2 million from a sub-trust to a revocable trust when Urban died in 2013, as required, and purportedly disposed of an irrevocable trust for his own benefit.

Lagan also allegedly conspired to deceive an attorney to move $2 million to a trust as if it were going to charity but instead purportedly kept the proceeds.

It is also alleged that in 2015, Lagan transferred around $6.3 million in aggregate from the Anne S. Urban Irrevocable Trust to accounts in his own name, according to reports.  The complaint alleges that he used $1 million in stolen money to fund a trust for his own benefit.

According to BrokerCheck report, Lagan has been a registered representative with Mercer Allied Company in Albany, NY since 1989.

Lagan could reportedly spend up to 14 years behind bars when he is sentenced next month.

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This information is all publicly available and is brought to you by The White Law Group. If you have questions or concerns about investments with Thomas Lagan, the White Law Group may be able to help. For a free consultation with a securities attorney, please call our offices at 1-888-637-5510.

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