On July 31, 2014, former Ameriprise Financial Services financial advisor, Michelle Lee Kern, 36, of Sacramento, CA, was sentenced to 46 months in prison and ordered to pay $642,625 in restitution for financial advisor fraud.
Michele Kern was a licensed financial advisor with Ameriprise Financial Services Inc. in Roseville, CA, from 2009 through December 2012, and allegedly stole $642,625 from approx. 20 clients. Michelle Kern forged clients' signatures on checks, and made wire transfers out of client accounts which she then transferred to her own bank accounts and credit cards. According to victim statements read in court, the victims said how difficult it was for many of them to retire, support disabled children, and pay for college.
While Kern awaits her sentencing in this fraud case, she has also been charged with embezzling money from her church.
Kern will begin serving her sentence on September 11, 2014.
Soreide Law Group represents clients nationwide. Call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your investment losses at: 888-760-6552.
Steven Graham (CRD 1977736) denies the allegations in a pending customer claim filed on August 11, 2026. The disclosure names Western International Securities as the firm, and the claim involves corporate bonds. No arbitrator has ruled on it. His BrokerCheck report also lists a settled bond dispute and a federal court matter from earlier years.
A claim filed on September 11, 2024 names Thomas Hamlin (CRD 2208505) over a 10% Senior Unsecured Note in iCap Fund III. Every disclosure on his BrokerCheck report involves an iCap private placement and names Somerset Securities as the firm. Each one settled, and a settlement is not an admission of wrongdoing.
Peter Po's most recent settlement came on June 28, 2026, when a corporate bond claim settled for $40,000. Po (CRD 3106974) appears in several settled customer disputes over corporate and high-yield bonds. The disclosures name NI Advisors or California Securities as the firm, and each matter ended in a settlement, not a finding.
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