LOS ANGELES
A Santa Maria investment advisor was sentenced to over 10 years in federal prison Monday for stealing approximately $2.25 million from elderly clients, including some in end-of-life care, officials stated.
Julie Anne Darrah, 52, pleaded guilty to one count of wire fraud in March.
U.S. District Judge Otis D. Wright II handed down the ten-year sentence and scheduled a restitution hearing for a later date. According to authorities, the SEC also filed a civil case, and Darrah has been ordered to pay more than $2.4 million
.
From 2016 to 2023, she exploited her role as a trusted advisor to gain control over clients’ assets, often convincing them to sign documents granting her power of attorney or trustee authority. She then liquidated their investments and funneled the money into accounts she controlled, using the stolen funds to buy real estate, luxury cars, and fund personal ventures.
Some victims were left unable to afford medical care.
One Minnesota-based firm that bought her company based on false statements suffered $5.4 million in losses after the fraud was uncovered.