Former investment adviser accused of stealing $475K from client

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Howard Price III (Source: Arizona Attorney General's Office) Howard Price III (Source: Arizona Attorney General's Office)
Howard Price III (Source: Arizona Attorney General's Office) Howard Price III (Source: Arizona Attorney General's Office)
PHOENIX (3TV/CBS 5) -

A former investment adviser has been indicted for allegedly stealing $475,000 from his client's retirement accounts.

Howard M. Price III, 44, is accused of convincing three clients to roll over their IRA retirement money to his firm, Howard Price Wealth Management from 2013-2017 with the promise of guaranteed returns, although he has not been licensed to provide investment advice in Arizona since 2012. 

Officials say that once Price gained control of the victims' money, he misused his clients' retirement funds to make purchases at clubs, bars and restaurants in Scottsdale and Arcadia. 

Price has been charged with one count of fraudulent schemes and three counts of theft.

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