According to the organization, Gold Star family members are eligible to a $100,000 payment plus the service member’s life insurance, which can be up to $400,000, if they are the immediate beneficiary of a service member who has died while serving in the military on active duty. Prosecutors said that Colts Neck, New Jersey, resident “Caz Craffy,” 41, entered a guilty plea to taking more than $9.9 million from multiple Gold Star families to invest in accounts that Craffy handled in his personal capacity without the families’ consent. In addition to serving as a financial counselor with the Casualty Assistance Office as a civilian employee of the U.S. Army, Craffy was a major in the U.S. Army Reserves, having enrolled there since 2003, according to the prosecution. Prosecutors claim that between May 2018 and November 2022, Craffy earned over $1.4 million in commissions while the Gold Star family accounts lost over $3.7 million.
According to a press release from the New Jersey U.S. Attorney’s Office, on Tuesday, Craffy entered a guilty plea to 10 counts, which included six counts of wire fraud and one count each of securities fraud, making false statements in a loan application, acting in a way that affected a personal financial interest, and lying to a federal agency.
In Trenton, New Jersey, U.S. District Judge Georgette Castner accepted Craffy’s plea. His sentence is set for August 21st. Prosecutors say that as part of his plea deal, Craffy will serve eight to 10 years in prison. The amount of his restitution will be disclosed when he is sentenced.
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