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Former Financial Advisor Sentenced for Stealing Elderly Woman’s Identity
SACRAMENTO, Calif. — In a shocking case of financial exploitation, Tyler Rigsbee, a 33-year-old former financial advisor from Cameron Park, was sentenced to two years in prison and ordered to pay $158,960 in restitution for committing aggravated identity theft, U.S. Attorney Phillip A. Talbert announced.
Rigsbee’s scheme, which spanned from 2016 to 2021, targeted elderly bank customers and resulted in the theft of a staggering $158,960 from their accounts.
According to court documents, Rigsbee stole $113,160 from one elderly victim’s account by using the name and identity of the account beneficiary to fraudulently transfer the funds into another account that Rigsbee had set up and controlled in the beneficiary’s name.
He then stole $45,800 from the account of a second elderly victim by transferring funds in incremental amounts into a separate account that Rigsbee had set up and controlled in the victim’s name.
Rigsbee pocketed the money by transferring these funds into his own personal bank account. In a desperate attempt to conceal his theft, Rigsbee stole $16,700 from a third elderly customer’s account and attempted to funnel that money into the second victim’s account to partially replace what he previously stole. However, this transaction was flagged, and the funds were reverted.
The case was the product of an investigation by the Federal Bureau of Investigation, with Assistant U.S. Attorney Elliot C. Wong prosecuting the case.
The sentencing of Rigsbee sends a strong message to those who would exploit the elderly and vulnerable for their own gain. It is a reminder that financial crimes will not be tolerated and that those who commit such crimes will be held accountable.
Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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