Lake Forest Financial Advisor Guilty of Attempted Exploitation of Elderly Couple

A prominent Lake Forest resident and financial advisor with ties to local non-profits and charitable organizations, was found guilty earlier this month of attempting to financially exploit an eldery couple for $60,000, reported the Gazebo News.

James P. Richter, a former chairman of the Lake Forest Symphony Association and past president of the Lake Forest Open Lands Association, was sentenced to 12 months conditional discharge and 100 hours of community service. He is also required to make a $500 contribution to a charity and avoid contact with the couple who had been his longtime clients, according to the Gazebo News.

According to his profile on spoke.com, Richter served as president of Lake Forest Capital Management from 1983 to 2003, then joined Wayne Hummer Trust Company when it acquired that company. He then served as managing director of Lake Forest Bank & Trust before retiring.

Richter's other community involvements included serving as chairman of the Barat College Board of Trustees; vice chairman of United Way of Metropolitan Chicago; president of United Way of Suburban Chicago; and treasurer of Kohl Children’s Museum.