Niles financial adviser charged with swindling over $2.5M from elderly clients

SHARE Niles financial adviser charged with swindling over $2.5M from elderly clients

Dirksen Federal Courthouse, 219 S. Dearborn. | Rich Hein/Sun-Times

A financial adviser working in the northern suburbs is facing federal charges in connection with the alleged defrauding of at least a dozen investors.

The adviser, 55-year-old Lucita Zamoras, is accused of selling herself as a retirement specialist to draw investments from elderly clients, particularly immigrants, according to a criminal complaint filed by the U.S. Attorney’s Office in Chicago.

Zamoras, who owns a number of companies in north suburban Niles, took the investment money and spent it on personal and business expenses, including gambling costs, payroll expenditures, credit card payments, airline tickets, car payments and utilities, the U.S. Attorney’s Office said.

From 2009 until August of this year, Zamoras defrauded at least a dozen clients of about $2.5 million, prosecutors allege.

Zamoras, of Chicago, was charged with one count of mail fraud, which is punishable by up to 20 years in prison. Arraignment in U.S. District Court hasn’t been scheduled.

The Latest
Francis Martinez, 18, of Des Plaines, and Wolfgang Gustaveson, 19, of Park Ridge, were killed when their truck collided with another truck, Carbondale police said.
The fire is under investigation, but the 131-year-old home’s survival could rest with the results of a structural report now being prepared by city building inspectors.
The Rev. Robert Dowd will take over July 1. He succeeds the Rev. John Jenkins, who led the university for 19 years.
Moog had served as CEO since 2020, overseeing the merger of the Chicago Sun-Times and WBEZ, creating the largest local nonprofit news organization in the country.
Mohammed K. Al Hijoj, 39, was on the job carrying four passengers when he was shot in the 1700 block of North Lotus Street on Sunday, officials said. The passengers fled.