July 7 (Reuters) - A former U.S. Army financial counselor from New Jersey was criminally charged on Friday with defrauding grieving military families out of life insurance payments, causing millions of dollars of losses while reaping big commissions for himself.
The U.S. Department of Justice charged Caz Craffy, 41, of Colts Neck, New Jersey, through a 10-count indictment with wire fraud, securities fraud and making false statements targeting members of at least two dozen Gold Star families.
Craffy "preyed upon these vulnerable families," U.S. Attorney Philip Sellinger in New Jersey said at a news conference.
Craffy, who is also known as Carz Craffey, also faces civil charges from the U.S. Securities and Exchange Commission.
Gold Star families include people who have immediate family members who died in active duty.
Persons:
Caz Craffy, Philip Sellinger, Craffy, Mark Berman, Sellinger, Gurbir Grewal, Grewal, Jonathan Stempel, Daniel Wallis
Organizations:
U.S, Army, U.S . Department of Justice, Gold Star, U.S . Securities, Exchange Commission, Star, Authorities, SEC, Thomson
Locations:
New Jersey, , New Jersey, New York