Manager at investment firm accused of stealing more than $500K
BUFFALO, N.Y. (WIVB) — A Niagara Falls woman has been accused of stealing and illegally moving money while working for an investment advisory firm in Buffalo.
Jennifer Campbell, 47, was charged with wire fraud and aggravated identity theft. A federal grand jury returned a 23-count indictment against her.
Authorities say that Campbell committed the alleged crimes between November 2018 and May 2021. At the time, she was working as the business’ office manager and chief compliance officer.
According to prosecutors, Campbell used her position to steal more than $500,000 from clients, as well as the firm itself. They say she wrote checks from client accounts, forged signatures of clients and principals and kept the money for herself.
Attempts were made to conceal it, prosecutors said.
“For instance, she sent a victim a falsified account statement showing a balance of approximately $148,000, when in fact the account had a balance of only $93,” the Office of U.S. District Attorney Trini Ross said. “In
another instance, Campbell took funds from a client and transferred the funds to the bank account of one of a previous victim, who believed that the funds she received were a distribution from her account.”
Prosecutors also said Campbell diverted emails and tried to make transactions appear legitimate using a principal’s email account, wherein she allegedly made false statements and submitted fake documents.
If Campbell is convicted, she could spend up to 20 years in prison and pay a $250,000 fine.