NOT FOR REPRINT
Northern Trust Hit With $35M Elder Fraud Lawsuit
News January 28, 2026 at 03:09 PM
Share & Print
What You Need To Know
- The plaintiff is a trust beneficiary whose family founded Security Trust Co., which was acquired by Northern Trust in 1971.
- The suit alleges that the VP, a former personal trainer, used stolen trust assets to fund his failed gym and pay credit cards.
- The fraud was caught after the plaintiff moved her trust to another financial institution.
- In August 2025, Northern Trust sued the VP, Christopher Walters, accusing him of "blatant fraud."
NOT FOR REPRINT
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Immediate Answers to Critical Tax Questions At Your Fingertips
Keep up with the latest tax rules and regulations with weekly, exclusive updates by our Tax Facts experts.
Get More InformationRecently Added Q&As
Recently Updated Q&As
What is the temporary “senior deduction” deduction for taxpayers age 65 and over?
Get Answer
Recently Updated Q&As
What is the temporary deduction for auto loan interest?
Get Answer
Recently Updated Q&As
What is the temporary deduction for overtime income?
Get Answer
Recently Updated Q&As
What is the temporary deduction for tip income?
Get Answer
Recently Updated Q&As
What is a high deductible health plan for purposes of an HSA?
Get Answer
Recently Updated Q&As
Are remote workers eligible for leave under the Family and Medical Leave Act (FMLA)?
Get Answer
Recently Updated Q&As
What is the CARES Act employee retention tax credit that was available during 2020 and 2021?
Get Answer
Recently Updated Q&As
Who must file a return?
Get Answer