Home Cincinnati Press Releases 2009 Financial Planner Pleads Guilty to Stealing Almost $2.7 Million from Clients
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Financial Planner Pleads Guilty to Stealing Almost $2.7 Million from Clients

U.S. Attorney’s Office May 13, 2009
  • Southern District of Ohio (937) 225-2910

COLUMBUS—Julie M. Jarvis, 50, of Columbus, pleaded guilty in United States District Court here today to one count of mail fraud and agreed to forfeit money and property worth $2,663,681.44 representing the amount of money she stole from two elderly clients between 2000 and 2009.

Gregory G. Lockhart, United States Attorney for the Southern District of Ohio, and Keith L. Bennett, Special Agent in Charge, Federal Bureau of Investigation, Cincinnati Division (FBI), announced the plea entered today before U.S. District Judge Gregory L. Frost.

Jarvis, a certified financial planner, owned and operated companies in the Columbus area, Crossroads Financial Planning, Inc. and EMCW, LLC. In May 2000, Jarvis began illegally diverting money from clients and their accounts into personal and company accounts she owned and controlled.

Jarvis admitted that she stole the money in several ways including forging her clients’ signatures on letters and instructions to the clients’ financial institutions, and misleading her clients by telling them the money would be used for investments on the clients’ behalf. In one instance, Jarvis transferred $210,000 from a client’s account to her account and said the transfer was related to a mortgage loan for the client’s granddaughter.

Jarvis agreed to make restitution to the clients prior to her sentencing. She also agreed to forfeit her interests in real estate in Columbus and Upper Arlington, the contents of bank and brokerage accounts, artwork, collectibles, lithographs and original prints she bought with the money, and a grand piano.

Mail fraud is punishable by up to 20 years imprisonment and a fine of up to $250,000. Judge Frost will set a date for her sentencing.

Lockhart commended the investigation by FBI agents, and Assistant U.S. Attorney Dale E. Williams, Jr., who is prosecuting the case. Lockhart also noted the cooperation of the Securities and Exchange Commission, which has undertaken separate civil action in this matter.

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