Ex-Army financial counselor admits to defrauding grieving Gold Star families in life insurance scheme




A former financial counselor with the US Army has pleaded guilty to defrauding grieving Gold Star families out of millions of dollars worth of life insurance payments, the Department of Justice said Tuesday.

New Jersey resident Caz Craffy, 41, pleaded guilty to six counts of wire fraud and one count each of securities fraud, making false statements in a loan application, committing acts affecting a personal financial interest, and making false statements to a federal agency.

If found guilty he could spend 8 to 10 years in prison under recommended federal guidelines. He’s also agreed not to appeal a sentence up to that range and to make full restitution.



When a member of the armed forces dies during active duty their surviving beneficiary — a Gold Star family member — is entitled to a $100,000 payment and the servicemember’s life insurance up to $400,000.

From November 2017 to January 2023, Craffy was responsible for providing general financial education to Gold Star families but instead used his position to “target” these vulnerable families, court documents revealed.
https://nypost.com/2024/04/17/us-new...star-families/