Army financial counselor pleads guilty to defrauding Gold Star families, including Hudson Valley military mom
While the Gold Star families suffered losses amounting to millions, Craffy profited - earning more than $1.4 million from his deceptive practices.
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A U.S. Army financial counselor has pleaded guilty to defrauding Gold Star families, including a Hudson Valley military mom.
Caz Craffy, also known as Carz Craffey, 41, pleaded guilty in federal court in Trenton, New Jersey, according to the U.S. Justice Department.
Over a span of four years, Craffy managed to obtain nearly $10 million from Gold Star families, purportedly to invest in accounts under his management. However, he admitted to executing trades without the families' permission, resulting in significant financial losses for them.
While the Gold Star families suffered losses amounting to millions, Craffy profited - earning more than $1.4 million from his deceptive practices.
One victim, Kim Ryan of Sullivan County, shared her ordeal in an interview with News 12 last October. She invested $400,000, which constituted her late son's death benefits. Although she managed to retrieve $260,000, the remainder was lost to stock market fees and commissions paid to Craffy.
Craffy is scheduled for sentencing in August.
