Sacto 9-1-1
November 7, 2013
Roseville financial adviser pleads guilty defrauding clients

A Roseville financial adviser has pleaded guilty to stealing clients' funds.

Michelle Lee Kern, 35, pleaded guilty to financial adviser fraud, according to a federal Department of Justice news release.

According to court documents, between December 2009 and December 2012, Kern, a registered investment adviser, defrauded her clients by transferring money from client accounts into her own bank accounts or credit card accounts, or to accounts of her relatives.

The case resulted from an investigation by the Federal Bureau of Investigation.

Kern is to be sentenced Jan. 30 by Chief U.S. District Judge Morrison C. England Jr.

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