Former LPL Advisor Charged With Fraud Over Alleged $2 Million Ponzi Scheme

October 21, 2026 - 19:23

William Tunink, a former advisor affiliated with LPL Financial, has been charged with 10 counts of fraud in connection with an alleged Ponzi scheme that took in roughly $2 million from investors. Prosecutors say Tunink convinced more than 50 victims to put money into investment opportunities that he described as safe, promising a guaranteed return of principal along with healthy profits.

According to the allegations, the funds were not invested as represented. Instead, authorities claim the money was used to pay earlier investors and to support Tunink's personal expenses, a pattern typical of Ponzi schemes. The arrangement collapsed when new money stopped flowing in, leaving many victims unable to recover what they had put in.

Tunink had been barred from the securities industry before the charges were filed. The case adds to a growing list of enforcement actions against advisors accused of exploiting client trust, and it raises questions about how such conduct can persist even after regulatory bans are in place. Victims are now waiting to see how the criminal proceedings develop and whether any of their losses can be recovered through restitution or civil claims.