Stoltmann Law Offices continues to investigate former Ameriprise advisor Susan Walker, who was sentenced to 88 months in prison after stealing more than $1 million from 24 retirement accounts of her clients. Walker pled guilty and was convicted of one count each of mail fraud and tax evasion in October of 2014. During the period between October 2008 and March 2013, Walker allegedly opened investment brokerage accounts in her name and several of her client’s names without their knowledge. She then withdrew money from the retirement accounts of at least 24 of her clients and hid the money she stole in accounts that were under her name. She then allegedly used the money to buy cruises, vacation packages, monthly rent and a new car. On top of her 88 month prison sentence, she also will receive three years supervised release and was forced to pay $978,950 in restitution.
Susan Walker was registered with IDS Life Insurance Company in Minneapolis, Minnesota from May 1998 until January 1991, American Express Financial Advisors in Minneapolis from May 1998 until January 1991, Invest Financial Corp in Tampa, Florida from May 1991 until November 1992, IDS Life Insurance Company in Minneapolis from May 1994 until November 1996, Titan/Value Equities Group in Irvine, California from June 1998 until March 1999, Mutual Service Corp in Plymouth, Minnesota from March 1999 until October 2008 and Ameriprise in Wayzata, Minnesota from December 2008 until April 2013. She has one customer dispute against her. She is not licensed and the Financial Industry Regulatory Authority (FINRA) permanently barred her from the industry.
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