Memphis securities broker John Jumper accused of $5.7 million theft from pension fund
A Memphis-area securities broker-dealer has been indicted on federal charges of embezzling $5.7 million from a Pennsylvania company’s employee pension fund.
Federal prosecutors in Williamsport, Pennsylvania, and securities regulators in Atlanta jointly issued news releases this week announcing charges against John Sherman Jumper of Eads.
The criminal indictment in Pennsylvania accuses Jumper of forging signatures on fraudulent documents to transfer money out of the pension fund. It alleged he used the stolen money to make unauthorized loans and investments and to pay off $1.2 million in personal loans and personal legal expenses.
Jumper is listed as chief executive officer of Alluvion Securities, with offices on Wheelis Road in East Memphis. His home address is in western Fayette County.
Read more: https://www.commercialappeal.com/story/news/crime/2018/04/19/memphis-securities-broker-john-jumper-accused-5-7-million-theft-pension-fund/534397002/
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