Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times | Recycling
Rocklin and Roseville Today Events Calendar
contact add event advertise 

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.

 





Placer County News Headlines

Stem Cell Grants for Spina Bifida and Diabetic Wound TreatmentsThe state stem cell agency, California Institute for Regenerative Medicine (CIRM), awarded a pair of grants totaling more than $7 million to UC Davis School of Medicine

Top 100 Paying Jobs in California (Part 6)Part 6 in our series on the Top 100 Paying Jobs in California.

$11.5 Billion Backlog at National ParksThe National Park Service recently released its fiscal year deferred maintenance statistics for national parks

Roseville Crime Report Digest Update (3.30.15)The Roseville Police Department's crime report digest update

Nelson Earned PhD Despite Three Disabilities"I grew up in a time when no one understood ADHD (attention deficit hyperactivity disorder)," said 53-year-old Eric Nelson of Sacramento, California, in a telephone interview.

Kia Sedona Minivan Delivers More in Redesigned VersionKia redesigned its minivan and didn't hesitate to make some significant changes. Borrowing a time-honored line when it comes to remodeling, the 2015 Kia Sedona arrived new and improved.

U2 Tour 2015: Tickets Selling QuicklyU2 will return to the stage on May 14 north of the border at Rogers Arena in Vancouver, British Columbia to kick off their 2015 Innocence + Experience World Tour

Sierra College CACT Partnership Wins AwardSierra College, the California Conservation Corps and Golden Sierra Job Training Agency were recognized by the Placer County Economic Development Board

David Boesch Honored at North Lake Tahoe Awards DinnerPlacer County Executive Officer David Boesch was presented the Public Servant of the Year Award at the North Lake Tahoe 61st Annual Community Awards

Garth Brooks Tickets: Six Nights in SacramentoSaddle up cowboys and cowgirls! Garth Brooks will be making the first California appearance on his current world tour

Vacation Deals: On Tight BudgetsLet's face it, we all love our vacation time. A time to break off from everyday routines, ditch a portion of the responsibility we call life and enjoy doing what we love

Joyce and Jim Raley Teel & Joseph Gallo HonoredMore than 700 guests came out to honor Joyce and Jim Raley Teel, Raley's Family of Fine Stores and Joseph E. Gallo at their induction into the California Grocers Association Educational


NEWS: In Case You Missed It