{"id":144313,"date":"2023-07-13T11:23:30","date_gmt":"2023-07-13T15:23:30","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=144313"},"modified":"2023-07-13T11:23:30","modified_gmt":"2023-07-13T15:23:30","slug":"an-army-reserve-major-was-charged-for-defrauding-gold-star-families","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=144313","title":{"rendered":"An Army Reserve Major was charged for defrauding Gold Star families"},"content":{"rendered":"\r\n

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Caz Craffy, major in the U.S. Army reserve, was one of the financial counselors working for the Army. He leveraged his status with the Army to defraud Gold Star families. He faces charges that include securities fraud and wire fraud. Craffy fooled the families of fallen service members into engaging in poor investments. Despite these families’ financial losses in this exchange, Craffy profited.

From Task and Purpose:<\/span><\/strong><\/p>\r\n

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Craffy, 41, was working at Joint Base McGuire-Dix-Lakehurst. At the time he was also working for two private financial firms, which he did not disclose to the Army or Gold Star families. Through his work in the Army, he was connected with Gold Star families, getting them to put financial benefits into accounts that he managed.

Craffy, who according to the indictment used the alias “Carz Craffey,” then made several unapproved trades with these financial firms. They paid him in commissions, which were tied to the size of the investments made. The money he received came from the accounts of the families Craffy was working with.

The trades were often not profitable. When the families approached Craffy about the losses, he made several excuses, according to the indictment, including ” the effects of the COVID-19 pandemic, the ongoing war in the Ukraine, and inflation generally.”

Craffy allegedly carried out this fraud and manipulation for more than four years, from May 2018 to November 2022. Over that time period he directed more than $9 million of survivor benefits into the funds he managed, netting $1.4 million in commissions while the investments had more than $3 million in losses.

Gold Star families, those who have had immediate family members die in active-duty military service, receive several benefits. Those include a $100,000 death benefit and up to $400,000 in the deceased’s life insurance. Additionally, the military provides financial counselors to assist them in managing the funds and putting them toward healthcare, education and other options.<\/p>\r\n<\/blockquote>\r\n

Task and Purpose has additional information on this story<\/a>.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Caz Craffy, major in the U.S. Army reserve, was one of the financial counselors working for … An Army Reserve Major was charged for defrauding Gold Star families<\/span>Read more<\/a><\/p>\n","protected":false},"author":661,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[209,220,359,185],"tags":[],"class_list":["post-144313","post","type-post","status-publish","format-standard","hentry","category-teh-stoopid","category-the-floggings-will-continue-until-morale-improves","category-army","category-crime"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/144313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=144313"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/144313\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=144313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=144313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=144313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}