In a stunning breach of trust and profession, an Indianapolis financial adviser has admitted to defrauding a client out of a colossal sum of $4.6 million. Christopher Turean, previously associated with Valeo Financial Advisors, confessed to charges of both wire fraud and tax fraud. Turean’s fraudulent activities were discovered in February 2022, which led to his immediate dismissal from his position at the Carmel-based firm—a prudent move once the magnitude of his deception began to surface.
During his ten-year tenure, Turean had cultivated a reputation as a certified financial planner, a trust swiftly exploited when he began siphoning funds from an unknowing client into a company he controlled, SCNT LLC. With the client’s faith in his financial stewardship, Turean executed unauthorized transfers under the false pretense of real estate investments—a sharp contrast to the bright future he projected for their assets. Turean, now revealed as a consummate illusionist in personal finance, had been using the client’s wealth to fuel a lavish lifestyle, extinguish his own debts, and sustain an appetite for sports betting through platforms like DraftKings and FanDuel.
The twist in the tale serves as a cautionary reminder of the personal and systemic risks inherent in the finance industry. Turean’s account is one of betrayal, inflated by a string of lies presented through falsified documents to cover his tracks. The fallout has left not only a client’s financial security in ruins but has exposed an unreported chunk of income to the IRS—a misstep that Turean has agreed to atone for with restitution commitments, including a significant sum owed to the tax authority.
While his SEC record reflects a once flourishing career in the securities industry, the Certified Board of Financial Planners has stripped Turean of his CFP credentials, a mark of how far he has fallen from professional grace. With potential penalties mounting up to a 20-year prison sentence, the wire fraud charge leaves Turean’s future hanging in the balance as he awaits a court-set sentencing date.
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