Jennifer Campbell, a 47-year-old resident of Niagara Falls, NY, has pleaded guilty to stealing hundreds of thousands of dollars from investment firm clients.
U.S. Attorney Trini E. Ross announced today that Campbell, the Office Manager and Chief Compliance Officer at an investment advisory firm based in Buffalo, used her access to client accounts to steal over $500,000 between November 2018 and May 2021.
Campbell, who was employed at the firm during the time of the theft, primarily stole money by writing checks from client accounts, forging signatures, and then depositing the checks into her own personal account.
In an effort to conceal her theft, Campbell took various steps, including sending a victim a falsified account statement that purported to show an account balance of approximately $148,000, when in fact the account at the time had a balance of only $93.
Campbell also gained access to the email accounts of the firm’s principals and diverted emails that they received 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.
The plea is the result of an investigation by the Internal Revenue Service, Criminal Investigation Division, under the direction of Special Agent-in-Charge Thomas Fattorusso, and the Federal Bureau of Investigation, under the direction of Acting Special Agent-in-Charge Michael Stansbury.
Sentencing is scheduled for February 27, 2023, at 1:00 p.m. before Judge Lawrence J. Vilardo. Campbell faces a maximum penalty of 20 years in prison and a $250,000 fine for the wire fraud charge.
The case highlights the need for vigilance in protecting client accounts and preventing financial crimes.
Defendant/respondent: Jennifer Campbell
Criminal charges: Wire fraud
City and state: Buffalo, New York
Exact date: The crime occurred between November 2018 and May 2021, and the plea was entered in 2023.
Sentence or outcome: Campbell faces a maximum penalty of 20 years in prison and a $250,000 fine for the wire fraud charge.
Dollar amounts: Over $500,000 stolen from investment firm clients
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Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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