Tuesday, March 20, 2012

Robert Bales scammed Gary Liebschner of more than $800,000 in a stock scam just before he enlisted in the army and Slaughtered 16 Civilians

The U.S. soldier accused of gunning down 16 Afghan civilians, including nine children, was more than $1million in debt and had defrauded a pensioner out of his life savings, it has been claimed.

Federal documents show how Staff Sgt Robert Bales scammed pensioner Gary Liebschner of Carroll, Ohio, of more than $800,000 in a stock scam just before he enlisted in the army.

Financial regulators found in 2003 how Bales 'engaged in fraud, breach of fiduciary duty, churning, unauthorised trading and unsuitable investments'.

Liebschner claims the then stock broker, working for Ohio brokerage firm MPI, took his life savings of $852,000 in AT&T stock and reduced its value to nothing through a series of trades.

Alongside his associates, Bales was ordered to pay his victim $1,274,000 in compensatory and punitive damages. But he has not yet done so.

Liebschner told ABC News he recognised 'smooth talker' Bales after news reports about the massacre. Read More