A Swampscott financial advisor has been sentenced to prison for stealing a former client’s retirement assets.
In May 2021, Felix Gorovodsky, 29, pleaded guilty to one count of bank fraud and was sentenced to 33 months in prison, two years of supervised release and must pay $310,492.
Horowodski served as the victim’s financial advisor; around July 2019, the victim terminated her relationship with the advisor and revoked the power of attorney she had previously executed for him. Approximately nine months later, Horowodski was able to access the victim’s bank account and transferred more than $250,000 from it to his bank account.
Horowodski then used the victim’s stolen retirement funds for personal expenses, including over $100,000 in federal student loan payments. As part of the scheme, Horowodski forged the victim’s signature on an alleged “gift letter” that he sent to the bank in an attempt to legitimize the fraudulent money transfer.
