Florida man accused of theft, securities fraud in Iowa

IOWA CITY - A Florida man faces numerous charges after stealing money from a couple he was providing investment services for.

According to Iowa City police criminal complaints, the victim and her husband approached 52-year-old Jeffrey A. Stewart, of Neptune Beach, Fla., in April 2010 about their investments. Police said Stewart became the couple's investment adviser.

Police said when Stewart took a job with a different investment firm, he did not notify the victims. He did, however, tell them their investments were still part of the previous company.

Stewart allegedly transferred the victim's assets to a new company between December 2011 and March 2012 without telling the woman. Police said Stewart forged the woman's signature to complete the transfer and received commissions for the transfer.

In addition, police said Stewart called the investment company in February and March 2012 and requested disbursements totaling $54,000. Police said when the victims - who thought they had received the checks in error - to Stewart, he deposited them into his personal checking account.

Stewart has been arrested and faces two counts of first-degree theft, a Class C felony; one count of forgery and one count of securities fraud, both of which are Class D felonies. If convicted of all the offenses, Stewart could spend up to 30 years in prison.