Former St. Louis stockbroker admits stealing man's life savings

CLAYTON, Mo. (AP) -- A former stockbroker admitted Monday that he stole more than $69,000 from a client -- the victim's entire life savings.

Charles Clark, 47, of St. Louis, pleaded guilty to 20 counts of felony theft, according to STLtoday.com, the Web site for the St. Louis Post-Dispatch. Sentencing is May 5.

Clark paid back $10,000 in entering his plea. The newspaper said the recommended sentence by prosecutor Keith Larner could depend on how much restitution Clark comes up with by his sentencing date.

Larner alleged that Clark took checks from the victim, a 73-year-old Anheuser-Busch Cos. Inc. retiree from Richmond Heights, on 24 occasions from 2000 through 2002 and deposited them in his own account.

Clark was a broker for Wachovia Securities. Larner said Clark kept the transactions secret from the brokerage.

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Information from: St. Louis Post-Dispatch, www.stltoday.com.