Jun. 9—BUFFALO — A Falls woman has been indicted by a federal grand jury on charges that she stole hundreds of thousands of dollars from the clients of an investment firm where she worked.
The 23-count indictment charges Jennifer Campbell, 47, with wire fraud and aggravated identity theft. The charges carry a minimum penalty of two years in prison, a maximum penalty of 20 years behind bars and a $250,000 fine.
Campbell pleaded not guilty to the charges during an arraignment in U.S. District Court in Buffalo and was released from custody on conditions.
Federal prosecutors said Campbell was employed as the office manager and chief compliance officer of an investment advisory firm based in Buffalo. In those roles, Campbell had access to client accounts.
The indictment charges that between November 2018 and May 2021, Campbell used that access to steal over $500,000 from both clients of the firm and from the firm itself. Campbell is accused of writing checks from client accounts, forging the signatures of either the client or a principal at the firm, and then depositing the checks into her own personal bank account.
Prosecutors said Campbell took steps to conceal the thefts.
In one instance, she allegedly sent a victim a falsified account statement showing a balance of approximately $148,000, when the account had an actual balance of only $93. Campbell also reportedly took funds from a client and transferred them to the bank account of another victim, who believed that the funds she received were a distribution from her investment account.
Prosecutors also charged that Campbell diverted emails, received by firm principals from anti-money laundering and financial crimes personnel at the firm's broker-dealer, who had begun to raise questions about some of her transactions. To stop the inquiries, Campbell is accused of sending several emails, using the email account of a firm principal, that included false statements and fake documentation, in an effort to make her transactions appear legitimate.