Exposing the Fraudulent Scheme of Chris Smithers

This website serves to shine a light on the extensive fraud committed by Chris Smithers, a former broker who lost his license and used deception to illegally trade client accounts for his own profit. The evidence comes directly from Smithers’ own signed affidavit confessing to his crimes.

The Mastermind: Chris Smithers

Chris Smithers is a con man who exploited investors through an elaborate web of lies and illegal trading activities. Despite openly admitting to his enablers that he had lost his broker’s license, been convicted of a felony, and struggled with a gambling addiction, Smithers was still granted access to trade client funds without their consent.

The Victims: M318 LLC and Lawyers Realty LLC

Two of Smithers’ biggest victims were investment companies M318 LLC and Lawyers Realty LLC. He actively recruited them as clients, only to turn around and drain their accounts through unauthorized trading.

In the case of M318 LLC, Smithers set up completely fictitious “dummy accounts” to cover up over $70,000 in losses he had incurred. He then lied directly to M318, claiming he had actually made them “hundreds of thousands” in profits through savvy trading during market volatility. This deception allowed Smithers to swindle an additional $80,000 from M318 under the guise of needing more capital, which he predictably lost as well.

With Lawyers Realty LLC, Smithers intercepted their $25,000 wire withdrawal request and had it canceled by PFG, his employer at the time. He then resorted to making up multiple lies about delays and assurances that the money was safe. In reality, Smithers had already lost around $140,000 of Lawyers Realty’s funds.

The Accomplices: Mike Young, Terry Sacca and PFG

Incredibly, Smithers did not act alone. Both Mike Young and Terry Sacca, who were brokers at PFG (the firm where Smithers previously worked), played pivotal roles in enabling the fraud.

Despite Smithers disclosing his tarnished history upfront, Young and Sacca actively assisted him in setting up accounts for clients he recruited, like M318 and Lawyers Realty. They provided Smithers with log-in details to illegally access and trade these accounts behind the clients’ backs.

Even more egregiously, there is evidence that Young and Sacca were well aware of irregularities occurring in certain client accounts tied to Smithers, such as the $70,000 loss on an erroneous M318 trade. Rather than notifying M318, Young and Sacca admitted in conversations with Smithers that they argued to have the loss split between themselves and PFG in order to reset M318’s account balance and conceal the issue.

This was not an isolated incident. On other occasions, PFG became aware that it was Smithers calling in trades under a client’s name, not the actual account holder. Yet they chose to process those illegal instructions regardless.

In the end, Young, Sacca and PFG all profited handsomely through fees and commissions generated from the accounts Smithers was secretly trading with client funds. They turned a blind eye to Smithers’ fraud, valuing those earnings over ethics and their duties to clients.

A Trail of Destruction

The impacts of Smithers’ reckless and criminal actions were devastating. Combined, he confessed to losing well over $200,000 of M318 and Lawyers Realty’s money through his unapproved trading. These businesses suffered tremendous financial harm and faced uncertain futures due to his selfish acts.

But the damage went far beyond just monetary losses. There were serious emotional and mental tolls as well. Victims experienced anxiety, anger and confusion as Smithers led them in circles with lie after lie about their accounts. Their trust was utterly violated.

Perhaps most disturbingly, Smithers preyed on these investors without any remorse, caring only about funding his gambling addiction. He apparently gave no thought to the hardworking individuals and families whose livelihoods were jeopardized by his crimes.

Shining a Light to Prevent Further Harm

The reason for this detailed expose is to ensure Chris Smithers’ fraudulent scheme, aided and abetted by willing accomplices, does not go unnoticed. His own admissions in a sworn affidavit provide indisputable proof that he lied, cheated and stole from innocent investors for inexcusable personal gain.

By sharing this information publicly, our goal is to raise awareness about how easily trusted financial professionals can take advantage of their positions if not held accountable. We want others to learn the telltale signs that Smithers exhibited: a history of unethical behavior, lavish promises of profits, and unwillingness to provide transparency into accounts.

Most importantly, we hope this case highlights the vital need for industry oversight and harsh repercussions for “white collar” financial crimes like this. Smithers’ actions warrant more than just civil penalties – they represent a complete betrayal of the trust and ethical standards he swore to uphold as a broker. He and his enablers must face justice to send a clear message that defrauding investors is unacceptable and will be punished to the full extent of the law.

This website aims to share the truth about Smithers’ deplorable conduct, as confessed by himself. We encourage visitors to spread these details far and wide to prevent other potential victims from falling for similar fraud in the future. Together, we can deny criminals like Smithers the secrecy and lack of accountability that allowed them to perpetrate such harmful schemes.