Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times |
Rocklin and Roseville Today Local Events Calendar
    (Independent and Locally Owned)
 

Roseville Financial Advisor Sentenced for Ripping Off Clients


Share It.




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.

 






more news Print This Article


Placer County News Headlines

Chronic Fatigue Syndrome Often Not BelievedChronic Fatigue Syndrome (CFS), also called Chronic Fatigue Immune Dysfunction Syndrome, had Carl Miller and his doctors, completely baffled for a long while.

Lexus LX570 SUV: Big, Attractive and SafeWhat most drivers will like about the Lexus LX570 is the combination of gracious around-town capability and its ability to go off-road in rugged winter conditions

Can You Get a Mortgage?Realtor, Julie Jalone, of MagnumOne Realty in Roseville, writes about a the current mortgage underwriting environment, how it is perceived buy potential home buyers and what lenders should do to accelerate the housing recovery here in Sacramento and across the country.

Santa to Visit Roseville Neighborhoods ScheduleRoseville, CA - After talking with Santa, he was able to work some time in his schedule to visit six Roseville neighborhoods this year before the holidays

Holiday Ice Rink in Roseville at GalleriaThe outdoor Bayside Ice Rink at the Westfield Galleria at Roseville is now open for the holiday season.

Rocklin Gets Ready for Santa VisitRocklin, CA -- Once again this year Santa Claus has requested the assistance of the Rocklin firefighters in escorting him through the local non-gated neighborhoods of Rocklin

Old Sacramento Holiday Theatre of LightsKnown as a magical, electrifying and family-friendly holiday tradition in Old Sacramento, the ever-popular and FREE Theatre of Lights performances return on Wednesday

Thanksgiving Fire Safety TipsCooking is, and has long been, the leading cause of home structure fires and home fire injuries, and according to the

Immigration Executive Action: Republicans and DemocratsAnother stark contrast of opposing sides on Obama's Executive Action on Immigration, highlighted by two Republican Congressman Tom McClintock's remarks and the California Democratic Party

PCWA Moves Forward on Watershed RemediationIn the aftermath of the massive King Fire, the Placer County Water Agency is taking emergency steps to prevent and manage the runoff of fire debris and erosion into the

Holiday Flu Could Be Grinch This YearWith Thanksgiving nearing and the holiday season upon us, many people will be hitting the malls for shopping, the airways for travel, and interacting with large groups of people

Placer County Honors Citizens with Commemorative CoinsThe Placer County Board of Supervisors honored Dr. Bryce Jessup of William Jessup University and volunteer extraordinaire Fuzzy Jarnagin of Loomis Tuesday, presenting them with




more news

Featured Yellow Pages Categories

Auto

Business

Health and Fitness

Home Improvement and Services