Massachusetts Advisor Sentenced In $3M Fraud

March 23, 2019 by Targeted News Service (Press Release)

BOSTON, Massachusetts, March 21 — The U.S. Attorney for the District of Massachusetts, Andrew E. Lelling, issued the following news release:

An Orleans investment adviser was sentenced yesterday in federal court in Boston for defrauding her clients of more than $3 million and using those funds for her own expenses.

Kimberly Kitts, 51, was sentenced by U.S. District Court Judge Denise J. Casper to 87 months in prison and three years of supervised release. In November 2018, Kitts pleaded guilty to an Information charging her with one count of investment adviser fraud, four counts of wire fraud and one count of aggravated identity theft.

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Originally Posted at InsuranceNewsNet on March 22, 2019 by Targeted News Service (Press Release).