WATERVILLE — An East Wenatchee financial advisor is likely to spend three years in prison after pleading guilty Thursday to defrauding his clients out of nearly half a million dollars.
Gregory D. Lone
Gregory D. Lone, 55, entered a plea in Douglas County Superior Court to five charges of first-degree theft, for defrauding five clients between 2016 and 2019. Investigators say Lone ran a Ponzi scheme through his firm, Paramount Financial Advisors, using client money to enrich himself and pay off promised returns to other clients.
His victims were Wenatchee Valley residents, many of them elderly. The case came to local investigators’ attention after the state…
