Michelle Kern Sentenced After Pleading Guilty to Financial Advisor Fraud

Ohio stockbroker fraud attorneyMichelle Kern, formerly associated with Ameriprise Financial Services, Inc., was sentenced to 46 months in prison and ordered to pay restitution as a result of her pleading guilty to financial advisor fraud.

The Peiffer Rosca securities practice attorneys Alan Rosca and Joe Peiffer are investigating the matter on behalf of victimized investors.

Kern Wired Victims’ Money to Her Own Accounts

Kern worked a financial advisor at Ameriprise between 2009 and December 2102. Kern stole $642,625 from approximately 20 clients by making wire transfers from client accounts to her own bank accounts and credit cards, according to court documents. Kern also forged client signatures on checks, according to court documents.

Kern’s heinous acts affected the ability of some her victims to retire, support disabled children, and to pay for college, according to victim statements read in court.

Securities Attorneys Investigating

With Kern going to prison, the Peiffer Rosca expect she is unlikely to comply with the restitution order and make any meaningful repayment to her victims. However, they are evaluating claims against Michelle Kern’s former employer, a financial service company that had a duty to adequately supervise and approve her investment related activities.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Broker: Michelle Kern

Status: INVESTIGATED by Peiffer Rosca.

For brokercheck report and additional info click here!

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.