Roseville financial adviser sentenced for defrauding clients out of $642K

A Roseville financial adviser who pled to stealing more than $642,625 from clients was sentenced to 46 months in prison in Sacramento federal court on Thursday.

U.S. Attorney, Eastern District of California spokesperson Lauren Horwood said 36-year-old Michelle Lee Kern of Sacramento stole the funds from approximately 20 clients while working as a broker at Ameriprise Financial Services Inc. in Roseville. She was employed there from 2009 to December 2012.

According to court records, Kern was determined to have transferred monies from her victims' accounts to her own bank and credit card accounts. She also forged client signatures on checks. Kern entered a guilty plea to fraud in November 2013.

Kern was also ordered pay the $642,625 she stole in restitution.

The FBI investigated Kern, who, in a separate case, has been charged in Placer County with embezzling from her church, Horwood said. That case is pending.

Kern was ordered to surrender on the fraud conviction Sept. 11.


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