RICHMOND, Virginia — A federal appeals court has upheld the fraud and conspiracy convictions of an investment adviser who used his background as an FBI agent to win clients' trust and then stole about $1.3 million from them.
A three-judge panel of the 4th U.S. Circuit Court of Appeals ruled Friday that there was "more than sufficient evidence" to support the convictions of John Robert Graves of Fredericksburg. Graves was sentenced in December 2012 to 11 years and three months in federal prison. His wife, who assisted in the scheme, got three years.
John Graves founded the Brook Point Management investment and insurance in 2003 after he resigned from the FBI. Evidence at trial showed that Graves and his wife used investors' funds to buy real estate and pay business and personal expenses.