Former financial adviser found guilty of fraud

A former Indiana County financial adviser accused of running a Ponzi scheme and ripping off investors of $1.2 million was convicted last week.

A federal jury deliberated about six hours Thursday before finding Bernard Parker, 56, guilty of securities fraud, mail fraud and tax violations.

The U.S. Attorney’s office said Mr. Parker defrauded 16 investors by selling them a variety of bogus investment packages and then keeping the money.

Testimony revealed that from 2008 through 2014, Mr. Parker got customers to enter “contracts” in which they would buy tax lien certificates for real estate in Florida, Arizona and Colorado. Those contracts and other investment products he sold were not registered by the state of Pennsylvania or by the Securities and Exchange Commission.

U.S. District Judge Reggie Walton will sentence him in October.