Niagara Falls Woman Charged with Stealing Hundreds of Thousands of Dollars from Investment Firm Clients
BUFFALO, N.Y. – In a shocking case of financial deception, Jennifer Campbell, 47, of Niagara Falls, New York, has been indicted on 23 counts of wire fraud and aggravated identity theft. According to court documents, Campbell, who was employed as the Office Manager and Chief Compliance Officer at an investment advisory firm based in Buffalo, NY, used her position to steal over $500,000 from several clients and from the firm itself.
Between November 2018, and May 2021, Campbell wrote checks from client accounts, forging signatures of either the client or a principal at the firm, and then deposited the checks into her own personal account. In addition, she took steps to conceal the thefts, including sending a victim a falsified account statement showing a balance of approximately $148,000, when in fact the account had a balance of only $93.
Campbell also diverted emails received by firm principals from anti-money laundering and financial crimes personnel at the firm’s broker-dealer, who had begun to raise questions about some of the transactions that Campbell had engaged in. To put off these inquiries, Campbell sent several emails using the email account of a firm principal making false statements and submitted fake documentation in an effort to make the transactions appear legitimate.
The indictment, which carries a minimum penalty of two years in prison, a maximum penalty of 20 years, and a $250,000 fine, is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent-in-Charge Stephen Belongia, and the Internal Revenue Service, Criminal Investigation Division, under the direction of Thomas Fattorusso, Special Agent-in-Charge.
Campbell was arraigned today before U.S. Magistrate Judge Jeremiah J. McCarthy and was released on conditions. The fact that a defendant has been charged with a crime is merely an accusation and the defendant is presumed innocent until and unless proven guilty.
The case serves as a stark reminder of the importance of vigilance and oversight in protecting the financial interests of clients. It is a disturbing example of the lengths to which some individuals will go to exploit their positions of trust for personal gain.
The indictment is a testament to the tireless efforts of law enforcement agencies in holding perpetrators accountable for their crimes. As the investigation continues, it will be essential to uncover the full extent of Campbell’s scheme and to bring justice to the victims who have been harmed.
The case will undoubtedly have far-reaching implications for the investment industry, highlighting the need for robust internal controls and regulatory oversight to prevent similar incidents in the future.
Defendant: Jennifer Campbell
Criminal Charges: 23 counts of wire fraud and aggravated identity theft
City and State: Buffalo, New York
Exact Date: November 2018 – May 2021
Sentence or Outcome: Released on conditions pending trial
Dollar Amounts: over $500,000
Related Federal Cases
- Mark Thompson, Wire Fraud and Conspiracy, New York NY, 2023 · New York
- Todd Faustin, Workers’ Compensation Fraud, New York NY, 2023 · New York
- Sark Wire Corporation, PPP Fraud, Albany NY, 2023 · New York
- Sark Wire Corporation, PPP Loan Fraud, Albany NY, 2020 · New York
- Kenneth Thom, Investment Adviser Fraud, New York NY, 2026 · New York
Key Facts
- State: New York
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
