Former Ameriprise broker Jennifer Guelinas was ordered on Thursday to pay $1.1 million in restitution to the brokerage and spend a year under house arrest for bilking an elderly client of over $800,000. The sentencing was handed down by at the U.S. District Court for the northern district of Indiana.
Guelinas, 45, plead guilty last May to one felony count of wire fraud for funneling money from a clients account for unauthorized investments including real estate, a restaurant and personal expenses. From 2006 to 2010, she forged the signature of a now 79-year-old client multiple times to transfer funds to her own business accounts, according to a statement filed by her attorney, Jeffrey Schlesinger.
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