Former Wells Fargo broker pleads guilty to stealing $500,000 from clients

What do you want to know

  • A former Wells Fargo broker and chief compliance officer has pleaded guilty to wire fraud.
  • The charge carries a maximum sentence of 20 years in prison and a fine of $250,000.
  • Sentencing is scheduled for February 27, 2023 at 1 p.m. in the U.S. District Court for the Western District of New York in Buffalo.

A former Wells Fargo broker and compliance officer has pleaded guilty to wire fraud in a scheme in which she stole more than $500,000 from multiple clients and the company itself, Trini E. Ross , a U.S. attorney for the Western District of New York, said Wednesday.

Jennifer Campbell, 47, of Niagara Falls, New York, pleaded guilty to the sole charge before Judge Lawrence J. Vilardo on October 19 in U.S. District Court for the Western District of New York in Buffalo, according to court documents.

The charge carries a maximum sentence of 20 years in prison and a $250,000 fine, according to Ross.

Campbell’s sentencing is scheduled for February 27, 2023 at 1 p.m. before Judge Vilardo.

Campbell was a registered broker with Wells Fargo Advisors from November 2012 to August 2015, according to his report on the Financial Industry Regulatory Authority‘s BrokerCheck website. She continued to be employed by the company after that, according to BrokerCheck.

Wells Fargo did not respond to a request for comment on Friday.

Ross did not identify Wells Fargo by name, and the Justice Department did not identify the company by name in its May 31, 2022, indictment against Campbell, referring only to the company in which she worked as “Consulting Firm 1”.

Campbell was “employed by investment advisory firm 1 from approximately 2017 to approximately May 2021” as an office manager, then, “from approximately 2018, also served” as chief compliance officer , according to the indictment.

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