Gold Star families allegedly defrauded of death benefits by adviser

The Justice Department has charged a U.S. Army Reserves major in an alleged years-long fraud scheme targeting Gold Star families. (Mandel Ngan/AFP via Getty Images)

A major in the U.S. Army Reserves and financial counselor with the Army is facing several criminal charges for allegedly defrauding Gold Star families, the Justice Department announced.

Caz Craffy, also known as Carz Craffey, of Colts Neck, New Jersey, allegedly tricked grieving family members into handing over hundreds of thousands of dollars of their deceased loved one's military benefits. From May 2018 until around January 2023, the accounts of Craffy's alleged victims decreased in value by more than $3.4 million as a result of market losses and commissions paid. Craffy, meanwhile, earned around $1.4 million in commissions by executing trades using these families' money, the Justice Department said.