BOSTON — A Swampscott financial advisor pleaded guilty in federal court Tuesday to defrauding an elderly victim and her bank by stealing the victim’s retirement assets.
Felix Gorovodsky, 29, pleaded guilty to one count of bank fraud.
According to the U.S. Attorney’s office, Gorovodsky served as a financial advisor to the victim until around July 2019, when the victim revoked the power of attorney she had previously granted him. Approximately nine months later, Gorovodsky accessed the victim’s bank account, transferring more than $250,000 into his own account. He used the funds for personal expenses, including paying off more than $100,000 in federal student loans.
Gorovodsky also forged the victim’s signature on a fraudulent “gift letter,” which he sent to the bank as an attempt to legitimize the money transfer.
According to the terms of the plea agreement, which is subject to the court’s approval, Gorovodsky will serve 33 months in prison and two years of supervised release, and pay restitution of at least $318,000.
Sentencing is scheduled for September 14.
