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Complete Story
04/14/2023
Ex-LPL advisor gets 15 years for elder fraud amid homicide investigation
Financial Planning
A barred ex-financial advisor who pleaded guilty to defrauding an octogenarian couple but denies involvement in the killing of one of the victims received a 15-year prison sentence.
Former LPL Financial advisor David Del Rio obtained power of attorney for his clients, Betty and William Cabral, and wrote checks from their bank accounts that he then deposited for himself until the thefts amounted to nearly $3 million, according to state prosecutors in Florida's Palm Beach County. In a plea deal last month, prosecutors struck three dozen counts from the charges in exchange for an agreement by Del Rio, 39, that the homicide investigation in Betty Cabral's April 2018 death remains open with "no promises of leniency, nor immunities" for him.
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