Jacqueline J. Stanfill, Wire Fraud, Tennessee 2015

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Knoxville Woman Pleads Guilty to Wire Fraud

Jacqueline J. Stanfill, 58, of Knoxville, Tenn., has pleaded guilty to wire fraud, mail fraud, and money laundering charges, according to a guilty plea agreement filed in the U.S. District Court for the Eastern District of Tennessee.

Stanfill, the owner and operator of Stanfill Wealth Management in Knoxville, admitted to claiming to invest her clients’ money with legitimate investment companies, but instead converting the funds to her own personal use. She created phony documents, including account statements and correspondence from Charles Schwab and Co., Inc., to maintain her clients’ confidence.

Stanfill also attempted to keep her clients in the dark by making payments under the guise of returning invested funds and accumulated earnings, and by sending funds to the Internal Revenue Service to maintain the illusion that the client’s fictitious investments were tax-deferred.

The investigation, which led to the indictment of Stanfill, was conducted by the FBI and IRS. Assistant U.S. Attorneys Frank Dale and Jennifer Kolman represent the United States.

The guilty plea comes after a July 2015 federal indictment, and a date for sentencing has not yet been set. Stanfill faces potential sentences of up to 20 years in prison, a fine of up to $250,000, and supervised release of up to three years for the wire fraud charge.

She also faces potential sentences of up to 20 years in prison, up to a $250,000 fine, and supervised release of up to three years for the mail fraud charge. Furthermore, she faces a potential sentence of up to 10 years in prison, a fine of up to $500,000 or twice the value of the property involved in the transaction (whichever is greater), and supervised release of up to three years for the money laundering violation.

The court will be asked to order the sentences imposed to run concurrently, and restitution to the victims of her crimes as well as forfeiture of assets gained through her illegal acts may also be ordered by the court.