Complaint Review: Foster Blount TVA Credit Union

We made 3 checks out for a total of $92,000.00 to american express. our finanial advisor put it in his personal checking account at TVA. Read report below.

Financial adviser charged with defrauding clients A financial adviser who worked in Knox and Hamblen counties has been arrested for allegedly defrauding his clients, according to the Knox County Sheriff's Office.

Delbert Foster Blount III, 38, was arrested last week on charges of forgery and theft and was released after posting $210,000 bond, a statement from the Sheriff's Office said.

Blount worked out of an office at 109 Northshore Drive, Suite 301 and had another office in Morristown, the Sheriff's Office said.

"According to reports, Blount would deposit checks into his personal banking account instead of a company account," the release said. "He would then tell his clients he had invested their money into mutual funds or stocks, but when they called those financial institutions they found out they did not have accounts."

Investigators believe Blount has defrauded at least five people in Tennessee of more than $900,000 and one person in another state of at least $1 million, according to the statement.

Leonard
kingsport, Tennessee
U.S.A.