A Marlboro Township, N.J., financial advisor has been sentenced to up to 10 years in prison for defrauding 20 clients out of $1.4 million, according to the Middlesex County, N.J., prosecutor’s office.
Jordan L. Zemlock, 50, has also been ordered to make restitution to clients, most of whom were senior citizens, of $1.4 million. He also was an insurance salesman. He has not been registered with Finra since 2006.
The owner of a business known as Jay-Zee Financial Group Inc., Zemlock pleaded guilty to theft by deception. He was arrested three times for taking money from clients with the promise to invest it but using it for his personal expenses instead.