A Napa resident and former financial adviser suspected of forging more than $1.8 million in checks written on accounts of a widowed client has been indicted on federal fraud charges.
Adorean Boleancu, 47, was a vice president and senior financial consultant in the Wealth Management Group of Wells Fargo Advisors LLC and, before that, a vice president with Morgan Stanley & Co.
According to a federal indictment unsealed Wednesday, Boleancu is suspected of writing checks drawn on the victim's Morgan Stanley brokerage account and home equity lines of credit that Boleancu had established for the victim.
The checks were made payable to Boleancu's family members, his girlfriend, another female acquaintance, cash, and financial companies where Boleancu had credit card accounts, officials said.
Boleancu appeared in federal court in San Francisco on Wednesday. He was released on an $800,000 bond. His next scheduled appearance is Tuesday before U.S. District Court Judge Richard Seeborg.