Scott Michael Campbell Under Investigation for Alleged Financial Misconduct in California.
LOS ANGELES, CA — The Los Angeles County District Attorney's Office has officially opened an investigation into Scott Michael Campbell, a former financial advisor, following allegations of fiduciary misconduct and misappropriation of client funds.
According to a statement released Tuesday, authorities are examining transactions involving at least 12 clients, with estimated losses exceeding two million dollars. The investigation, which began after a formal complaint was filed by the California Department of Financial Protection and Innovation, focuses on transactions conducted between January 2021 and March 2024.
Campbell, who was licensed as an investment adviser in the state, is accused of transferring funds from client retirement accounts to accounts he controlled. No formal charges have been filed, and Campbell has not made a public statement regarding the allegations. His legal counsel, James R. Harlow, said in a brief statement that they are cooperating with authorities and that Campbell maintains his innocence.
The Securities and Exchange Commission has also initiated a parallel civil inquiry. The case has prompted renewed scrutiny of small investment firms operating in the state.