YADKINVILLE — The trial of financial adviser Charles Caleb Fackrell for allegedly obtaining more than $500,000 by false pretenses was continued in Yadkin County Superior Court Monday until the Jan. 25, 2016, session.
Presiding over this week’s scheduled two-day session, Judge Stuart Albright approved the request by Fackrell’s court-appointed attorney to postpone the case. Fackrell, 34, of Boonville, remains in custody in the Yadkin County Jail under $2,253,000 bond.
Yadkinville police were first alerted to Fackrell’s financial irregularities in a Dec. 1, 2014, call from Fackrell Trivette Wealth Management LLC, located at 604 Tennessee St. Investigators allege there had been multiple incidents of obtaining property by false pretenses.
A warrant was issued for Fackrell on Dec. 5 for obtaining property by false pretenses in excess of $100,000. Two additional warrants, also in excess of $100,000, were issued on Dec. 10. The victims were investors in Yadkin and surrounding counties.
Charges stem from illegal business practices facilitated in the name of Charles Caleb Fackrell and Fackrell Trivette Wealth Management, LLC. Investigators now allege the fraud cases against Fackrell, including charges out of Cumberland County, total more than $500,000.
The investigation is a joint effort by the Yadkinville Police Department, the N.C. State Bureau of Investigation and the North Carolina Secretary of State’s Office.
On Feb. 26 of this year, the Financial Industry Regulatory Authority (FINRA) permanently barred Fackrell “from acting as a broker or otherwise associating with firms that sell securities to the public.”
According to the FINRA website, “Without admitting or denying the findings, Fackrell consented to the sanction and to entry of findings that he failed to provide documents and information as requested by FINRA. The findings stated that during the course of an investigation into allegations that Fackrell converted customers’ funds and sold private securities offerings away from his member firm without the firm’s knowledge or approval, FINRA requested that Fackrell provide documents and information.
“As stated in Fackrell’s phone call with FINRA, and by the AWC agreement, he acknowledges receipt of FINRA’s request and informed FINRA that he would not cooperate with FINRA’s investigation.”
Fackrell was previously registered with LPL Financial LLC in Yadkinville from June 2010 until his arrest in December of 2014. Before that, he was registered at Wells Fargo Advisors, LLC, in High Point from December 2009 through June 2010; SunTrust Investment Services, Inc. in Yadkinville from July 2008 through December 2009; and Morgan Stanley & Co., Inc. in Winston-Salem from August 2007 through February of 2008.
Kathy Chaffin may be reached at 336-258-4058.