WealthManagement.com reported in a November 5 article that Lazaven Mitchell, a Pittsburgh-based advisor, has pleaded guilty to impersonating an employee of the U.S. Department of Labor. gsmglobalnews reported that U.S. Attorney Troy Rivetti announced the plea on November 2, 2026.
Mitchell, 38, entered his plea to a single charge of pretending to hold a federal post before Senior United States District Judge David Stewart Cercone. According to the Justice Department, the conduct ran from April to June 2024. In that window, Mitchell is alleged to have claimed to work for the Department of Labor's Employee Benefits Security Administration and sought permission from Pittsburgh companies to examine their retirement plans.
Evidence highlighted by prosecutors also included correspondence that used the Labor Department seal and carried EBSA's Washington, D.C. mailing address, alongside text messages that mentioned a final determination from the DOL. An address in the William S. Moorhead Federal Building appeared on a business card one owner received, which also bore the EBSA name and emblem and the holder's supposed job title.
Daily Voice reported that an employer was allegedly urged, after a plan review, to swap out its incumbent advisor and name Mitchell as plan administrator, on the basis of a purported compliance concern. Daily Voice reported that he allegedly supplied draft termination letters for that purpose. These points are allegations drawn from the reporting, and the plea itself concerns the impersonation count.
According to the Justice Department, the most Mitchell could face is up to three years behind bars, along with a fine that tops out at the larger of $250,000 or twice the gross financial gain from the offense. Sentencing is set for March 25, 2027, before Judge Cercone. The FBI and the Department of Labor Office of Inspector General investigated the matter, and Assistant U.S. Attorney Brendan J. McKenna is prosecuting the case. PlanSponsor reported that Mitchell is represented by the Office of the Federal Public Defender.
Daily Voice reported that the charge was filed January 7, 2025, citing a FINRA BrokerCheck report. Its account describes Mitchell as a licensed financial advisor and loan officer. According to the same report, his BrokerCheck record lists him as not currently registered as a securities broker and shows a PFS Investments registration from May 2022 through December 2025. ThinkAdvisor described him as formerly of PFS Investments.
The accounts of his registration history differ. WealthManagement.com, citing SEC records, reported that he was briefly registered with Primerica Advisors between 2023 and 2025, and that the sole prior regulatory matter on his record is a 2013 missed court date in a domestic relations case. A Primerica profile for Mitchell states that he started with the firm in 2008. One law-firm blog says PFS Investments now operates as Primerica Advisors, but that report does not explain the individual registration dates, which should be checked against BrokerCheck and IAPD records.
PFS Investments Inc., CRD number 10111, is headquartered at 1 Primerica Parkway in Duluth, Georgia, according to FINRA BrokerCheck and an aggregator profile. BrokerCheck records show the firm was formed in Georgia on July 7, 1981. Primerica's website describes PFS as a registered broker-dealer, investment adviser and FINRA member. PFS's SEC filings place it under Primerica Finance Corporation, and that entity is itself fully owned by Primerica, Inc. A 2023 SEC filing cited about 18,700 independent licensed sales representatives.
Daily Voice also reported that Mitchell promoted himself as Wallet Dr. and appeared on a podcast episode published June 28, 2024, the month the impersonation period ended. After the charge, he was announced as a board member and Finance and Audit Chair of Perfect Purpose Humanity Hospital, according to the same report.
For advisors and retirement plan sponsors, the case shows how a claimed government affiliation can be used to win business and how a federal seal or business card does not confirm who is presenting it. Firms weighing a plan review or a change of plan administrator may want to confirm credentials directly with the agency involved. The conflicting registration accounts in this case also underline the value of checking BrokerCheck and IAPD records before a hiring decision.
Mitchell is scheduled to be sentenced on March 25, 2027. Until then, the allegations about his conduct with individual businesses remain allegations, and the registration history reported by different outlets will need to be verified against primary records.