Roseville Financial Advisor Sentenced for Ripping Off Clients
Michelle Lee Kern, 36, of Sacramento, was sentenced today by United States District Judge Morrison C. England Jr. to 46 months in prison and ordered to pay $642,625 in restitution for financial advisor fraud, United States Attorney Benjamin B. Wagner announced.
According to court documents, Kern worked as a licensed financial advisor at Ameriprise Financial Services Inc. in Roseville between 2009 and December 2012. While working as a financial advisor, Kern stole $642,625 from approximately 20 clients by making wire transfers from client accounts to Kern's own bank accounts and credit cards. Kern also forged client signatures on checks. According to victim statements read in court, Kern's theft made it difficult for some victims to retire, support disabled children, and pay for college.
"Kern abused her role as a trusted, licensed financial advisor to defraud her clients for personal gain. Her actions clearly demonstrated disregard for the perilous financial situation her clients ultimately faced when they became victims of the fraud," said Special Agent in Charge Monica M. Miller of the Sacramento division of the Federal Bureau of Investigation. "Investigation and prosecution of financial fraud is a top priority for the FBI, particularly such that is committed by those entrusted to safeguard funds."
While awaiting sentencing in this case, Kern was charged in Placer County with embezzling from her church. That case is pending, and Kern is presumed innocent of those charges, unless and until proven guilty.
This case was the product of an investigation by the Federal Bureau of Investigation. Assistant United States Attorney Michael D. Anderson prosecuted the case.
Kern was ordered to turn herself in to the Bureau of Prisons on September 11, 2014, to begin serving her sentence.
Pet Care | Real Estate | Restaurants | Tech | View All | * Add/Upgrade Business
Placer County News HeadlinesHomeless Resource Helpline Launched in PlacerAUBURN, Calif. -- Placer County residents who are experiencing homelessness now have a new, centralized gateway to housing resources.
Kindergarten Registration in Eureka Union School DistrictRoseville, CA,- Registration for Transitional Kindergarten and Kindergarten will begin February 6th in the Eureka Union School District.
2018 William Jessup Baseball Season PreviewRocklin, Calif. - The Warriors are set to take the field for the first time in their 2018 stint ahead with great expectations under new head coach Jake McKinley and a solid recruiting class
SACOG New Board Leadership for 2018Sacramento - City of Sacramento Councilmember Jay Schenirer and City of Rancho Cordova Councilmember David Sander elected.
Donut Dash Benefit Registration Underway(Sacramento, Calif.) - The tenth annual Donut Dash will take place Saturday, March 3, at 8:30 a.m. at William Land Park in Sacramento. Proceeds will benefit the UC Davis Child Life and Creative Arts Therapy Department
BottleRock Napa Valley Lineup of Restaurants, Wineries, and Artisanal Craft Breweries & DistilleriesNAPA, CA, - Situated in the heart of America's wine and food playground, BottleRock Napa Valley, presented by JaM Cellars, has once again tapped into the region's renowned culinary talent
Thunder Valley Casino Hiring for Janitorial and HousekeepingLincoln, CA,- Thunder Valley Casino Resort is hiring for Janitorial and Housekeeping positions at a Job Fair on Wednesday,
School Strategies for Children with ADHD and ASD(Sacramento, Calif.) - On Wednesday, Jan. 24, the UC Davis MIND Institute and its Center for Excellence in Developmental Disabilities will host "School strategies for children with ADHD and ASD
916 Dialing Changes are Coming SoonOn February 09, 2017, the California Public Utilities Commission (CPUC) approved an overlay that will add the new area code 279 to the 916 area code region
Tree Harvest Festival billed as Northern California's first Cannabis Harvest FestivalWoodland, CA- We are proud to present Northern California's first Cannabis Harvest Festival. We will celebrate the 420 holiday with Music, Art, and Education
Mitsubishi Outlander remains affordable SUVRoseville, CA,- Cost-conscious car shoppers should give the 2018 Mitsubishi Outlander a look because it can be driven off the dealer lot for a very reasonable price.
Free Tax Assistance for Eligible ResidentsRocklin, CA- For the third year Placer County Health and Human Services will provide free tax assistance to low-income individuals and families, in cooperation with the IRS and United Way
NEWS: In Case You Missed It