Clearwater Man Arrested in $152,000 Elderly Exploitation Scheme

Former investment adviser Matthew Muratori, of Clearwater, was arrested on charges of elderly exploitation, grand theft, identity theft, and scheme to defraud related to the alleged embezzlement of an elderly client's funds.

 Muratori is alleged to have embezzled more than $152,000 of an elderly clients’ funds. He allegedly convinced the victim, who has diminished capacity, to transfer investment accounts to his firm, Pruco Investments. Muratori purportedly created a fraudulent email account and used it to establish Cash App and Venmo accounts in the victim’s name without the victim’s knowledge or consent. He also allegedly obtained a debit card which was used to facilitate transfers from the fraudulent payment services accounts to his own P2P accounts as well as to his checking account. Additionally, Muratori is alleged to have impersonated the client on calls to financial institutions and to have created a web banking profile for the victim’s account to further facilitate the fraudulent transactions.

 Muratori’s license as a securities broker and investment adviser was revoked by FINRA as a result of a complaint involving the allegations in this case.

 The case was investigated by the OFR, and the Pinellas County Sheriff’s Office secured the arrest. The Attorney General’s Office of Statewide Prosecution is prosecuting the case.