California Department of Insurance Press Release, September 13, 2021
Ongoing Department of Insurance investigation reveals a total of 64 victims
ORANGE, Calif. — Additional felony charges have been filed against Robert Andrew Lotter, 64, of Newport Beach, and Charles Albert Major, 72, of Irvine, who were arrested in November after allegedly defrauding their clients with high-risk investments. The additional charges include multiple counts of securities fraud violations with aggravated white collar and financial elder abuse enhancements after allegedly defrauding an additional 23 victims. The collective loss from Lotter’s and Major’s alleged fraud is more than $10 million to 64 victims.
NICB assisted this investigation.