ORANGE, Calif. — Additional felony charges of securities fraud violations have been filed against Robert Andrew Lotter, 64, of Newport Beach, and Charles Albert Major, 72, of Irvine. The additional charges were filed after Lotter and Major allegedly defrauded 22 additional victims.
On November 24, 2020, Lotter and Major were arrested on similar charges of securities fraud and burglary after allegedly defrauding more than 20 victims out of over $4 million. With the new charges, Lotter is charged with 40 felony securities fraud violations and Major is charged with 22 felony securities fraud violations and six charges of residential burglary. The collective loss from Lotter’s and Major’s alleged fraud is more than $7 million to 44 victims.
Read the entire press release. California Department of Insurance, May 17, 2021
NICB assisted with this investigation.