Broker Who Defrauded Gold Star Families Gets 12 Years in Prison

A former New Jersey financial counselor with the U.S. Army who is a major in the Army Reserve was sentenced on Aug. 21 to 151 months in prison for admitted defrauding of Gold Star families and related crimes.

Caz Craffy, aka “Carz Craffey,” 42, of Colts Neck, New Jersey, pleaded guilty on April 16, according to the Department of Justice.

Craffy was charged with six counts of wire fraud and one count each of securities fraud, making false statements in a loan application, committing acts affecting a personal financial interest, and making false statements to a federal agency, the DOJ said.

From November 2017 to January 2023, Craffy was a civilian employee of the U.S. Army, working as a financial counselor with the Casualty Assistance Office. He has been enlisted in the Army Reserve since 2003.

Craffy was responsible for providing general financial education to the beneficiaries of service members killed on active duty, according to DOJ.

While Craffy was prohibited from offering any personal opinions regarding the surviving beneficiaries’ benefits decisions, “without telling the Army, Craffy simultaneously maintained outside employment with two separate financial investment firms,” DOJ said.

Craffy used his position as an Army financial counselor to identify and target Gold Star families and other military families.