Maryland Attorney General Anthony G. Brown announced that Andrew Joseph Egber, 61, formerly of Gaithersburg and now of Culver City, California, has pleaded guilty and been sentenced in connection with a fraudulent real estate investment scheme.
Egber, who previously worked as a financial services provider for Wells Fargo, Raymond James, and Steward Partners, admitted to defrauding five elderly investors between 2015 and 2019. Prosecutors said he persuaded clients to withdraw funds from their retirement accounts for what he claimed was a real estate investment opportunity, but instead deposited the money into his personal account and used it for his own expenses.
On February 20, 2026, Egber pleaded guilty in Montgomery County Circuit Court to two counts of felony theft over $100,000, one count of exploitation of a vulnerable adult, and one count of securities fraud. He was sentenced to 18 months in jail, followed by five years of probation, with the possibility of additional prison time if probation is violated. He has also been ordered to pay $545,831 in restitution. The case was investigated by the Attorney General’s Fraud and Corruption Unit and Securities Division with assistance from Montgomery County Police and the Montgomery County State’s Attorney’s Office.
