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Kaplan Twins Charged with $5M Elderly Fraud, Luxury Splurge

5/27/2026

43 7 Full Breakdown

Summary

Story summary

Federal securities regulators allege Adam Kaplan and Daniel Kaplan misappropriated roughly $5 million from elderly clients’ personal and medical expense accounts.
A judge dismissed a $245 judgment in the twins’ favor after clients reported forged signatures and altered checks.
Adam allegedly wired $156,000 to luxury retailers, including a Hermès handbag, and claimed repayment would neutralize the misconduct.

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Story summary

Federal securities regulators allege Adam Kaplan and Daniel Kaplan misappropriated roughly $5 million from elderly clients’ personal and medical expense accounts.
A judge dismissed a $245 judgment in the twins’ favor after clients reported forged signatures and altered checks.
Adam allegedly wired $156,000 to luxury retailers, including a Hermès handbag, and claimed repayment would neutralize the misconduct.