Springfield - A Springfield financial advisor has been arrested for allegedly defrauding an 84-year-old woman from Sangamon County out of $65,000.
David Lisnek, 45, was arrested at his home by special agents from Secretary of State Jesse White's Illinois Securities Department, along with officers from the Springfield Police Department, on a criminal complaint filed by the Sangamon County State's Attorney.
"It is terribly disheartening when someone uses their influence to scam our senior citizens out of their hard-earned money," White said. "Our office is committed to prosecuting those people who defraud innocent investors."
Lisnek, who was charged with one count of Financial Exploitation of the Elderly -- a Class 1 felony, had been employed as a financial advisor by LPL Financial, LLC. He was terminated on November 13 after his registrations as an investment adviser and securities salesperson were suspended in a separate action by the Securities Department. A temporary order was issued by the department preventing Lisnek from offering or selling securities, or from providing investment advice. The order was based on the same information and evidence as the criminal complaint.
While serving as her "financial planner," Lisnek encouraged the woman to write checks to him personally in order "to avoid problems with the feds," according to the temporary order.
Ironically, Lisnek has written several columns for local newspapers on the subject of investing, and has published several books, including one on how to avoid being defrauded by unscrupulous investment advisors.
Additionally, the temporary order prohibits Lisnek from offering and selling securities and from providing investment advice.
Unless Lisnek requests a hearing on the matter, the order will become final after 30 days, which will result in a permanent suspension of his registrations and permanently prohibit him from offering and selling securities and providing investment advice.