Former investment broker indicted for stealing from clients

Damian M. Baird, 51, of Clarence was arraigned on Oct. 3 on an indictment charging him with one count of grand larceny in the second degree, three counts of grand larceny in the third degree and four counts of criminal possession of a forged instrument in the second degree.

It is alleged that, between Feb. 3 and March 15, the defendant fraudulently obtained more than $153,500 from three clients in Erie County while working as an investment broker. The defendant allegedly deposited the victims' checks into his personal bank account instead of their investment account. An investigation was conducted after one of the clients filed a dispute after being notified that their investment account had not been funded and their check had been altered to be made payable to the defendant.

Baird was released on his own recognizance as the charges are non-qualifying offenses for bail. If convicted of the highest charge, he faces a maximum of 15 years in prison.

As are all persons accused of a crime, the defendant is presumed innocent until proven guilty in a court of law.