BALTIMORE, Md. – Attorney General Anthony G. Brown today announced the guilty plea and sentencing of Andrew Joseph Egber, 61, of Culver City, California, formerly of Gaithersburg, Maryland. Egber previously worked as a financial services provider in Maryland for Wells Fargo, Raymond James, and Steward Partners. The investigation was led by the Attorney General’s Fraud and Corruption Unit and Securities Division.
Egber used a fraudulent real estate investment scheme to defraud five investors between 2015 and 2019. He deceived his elderly clients into withdrawing money from their retirement investment accounts which he claimed he would put toward a real estate investment opportunity. Egber then instructed his clients to give him the withdrawn money, in the form of personal checks made payable to Egber directly, for this supposed real estate investment. Egber also made false statements to the financial institutions to justify the withdrawals. Rather than use the funds for a real estate investment for his clients, Egber simply deposited the funds into his own personal checking account and stole the money. Egber then used the stolen funds for his own personal expenses.
On February 20, 2026, Egber pleaded guilty to two separate counts of felony theft over $100,000, one count of exploitation of a vulnerable adult, and one count of securities fraud before the Honorable David W. Lease of the Circuit Court for Montgomery County. Egber was sentenced to serve 18 months in jail. Upon his release from incarceration, Egber will be on five years of probation. If he violates his probation, he will face up to an additional eight years and six months of incarceration. He has also been ordered to pay $545,831 in restitution.
“This defendant stole money his elderly clients spent a lifetime saving,” said Attorney General Brown. “Our Office will always hold financial advisors accountable when they steal from the Marylanders who trust them.”
In making today’s announcement, Attorney General Brown thanked his Criminal Division and Securities Division, specifically Fraud and Corruption Unit Chief Alexander Huggins, Financial Investigator Harry Armstrong, and Assistant Attorney General Ryan Cornell, who prosecuted this case. Finally, Attorney General Brown thanked Montgomery County police detective Michael Adami and State’s Attorney for Montgomery County John McCarthy for their assistance with this investigation and prosecution.
He has also been ordered to pay $545,831 in restitution? Some of the elderly folks he defrauded will have died long before his restitution even makes a dent in what he stole from them. The courts need to make sure that his restitution carries on to the decedents of those he stole from.