Former Wauwatosa Financial Advisor Sentenced for $3M Fraud: Robert C. Starnes, a former financial advisor from Wauwatosa, received a 40-month prison sentence for defrauding clients of over $3M. Starnes, who operated Robert C. Starnes Financial Services, admitted to using client funds for personal expenses and providing fake investment statements. He was ordered to pay $3M in restitution and serve 3 years of supervised release. Starnes, a registered investment advisor since 1989, was barred by the U.S. Financial Industry Regulatory Authority in 2023. He pleaded guilty to two counts of wire fraud in January 2025.
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