Help pack a million meals for struggling seniors on 9-11. Volunteer today



Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

Happy African American couple

AARP Books

Visit the Books Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

Jobs You Might Like

most popular


If You Think Something Sounds Fishy, Trust Your Gut

When someone you trust steals from you, the consequences are immense. You might suffer a sense of betrayal, embarrassment or humiliation, and of course the cost of the loss itself.

See Also: Spot Fraud Before It Spots You
A handful of Wyoming residents know that first-hand. They were victims of theft and fraud at the hands of two people they trusted to invest their money.

Wyoming Secretary of State Max Maxfield wants Wyoming residents to know that if they suspect they are being cheated or defrauded that his office can help.

“I know how hard people work for their money,” Wyoming Secretary of State Max Maxfield says. “I want to make sure that people have the tools and information they need to protect themselves. While we know that the vast majority of investment professionals are honest and ethical people, we also know of instances when that’s not the case.

“My office is available if people have questions about their brokers or investments they are considering. I would much rather prevent a fraud from occurring than investigate one that’s already taken place. But if any Wyoming resident feels an investment fraud has taken place, he or she should call the Compliance Division immediately.”

Two cases are particularly well documented in Wyoming, thanks to the media attention to guilty pleas to a variety of federal charges by both men, one a Casper securities agent, and the other a Rock Springs securities adviser. In both cases, the Wyoming Secretary of State’s office became involved early on. The results of the investigations that resulted were far-reaching, attracting the attention of the U.S. Securities and Exchange Commission in one of the cases.

In the first case, a widow in southwest Wyoming discovered in September 2004 that her 2002 federal taxes had not been paid. Gregg Novotny, then employed at Piper Jaffray & Co., in Casper, had invested the woman’s inheritance from her husband’s retirement accounts. Novotny had told the woman his company offered free tax services to its clients, and she took him up on his offer, selling securities and providing Novotny with blank signed checks to make tax payments. When she contacted Novotny, he told her the error was a glitch and he would take care of it. When she tried reaching him again, she was told he no longer worked at Piper Jaffray.

A subsequent investigation showed Piper Jaffray does not offer tax services to clients; Novotny made a payment on her federal taxes with one check, but deposited money from eight more checks, totaling $87,300, in two personal bank accounts for his own use.
Back to Article

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts


Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.


The Cheap Life

Jeff Yeager Cheap Life Ultimate Cheapskate AARP YouTube web series save money

Catch the latest episode of The Cheap Life starring Jeff Yeager, AARP's Ultimate Cheapskate. Watch

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

Member Benefits HomeServe

Members can protect their homes with comprehensive repair plans from HomeServe.

AARP Credit card from Chase

Members can get cash back rewards on purchases with the AARP® Credit Card from Chase.

Woman holding smartphone in city, Google map tool

Members can find discounts on the go via the AARP® Member Advantages Offer Finder app.

Member Benefits

Join or renew today! AARP members receive exclusive member benefits & affect social change.

Rewards for Good

Your Points Balance:

Learn More

Earn points for completing free online activities designed to enrich your life.

Find more ways to earn points

Redeem your points to save on merchandise, travel, and more.

Find more ways to redeem points


Advance your skills. Transform your career.

Explore your learning possibilities.