Jennifer Killins, a former financial advisor who operated a business in Waterloo, Ont., was sentenced to four years in jail on Thursday for defrauding clients of roughly $1.3 million.
Killins pled guilty in June to fraud, uttering a forged document, attempted fraud and obtaining credit by fraud. According to the agreed statement of facts, in 2011, the Waterloo Regional Police Service received complaints from 21 of Killins’ clients. Of those clients, 17 had a combined financial loss of $1,295,973. (See Investment Executive, Killins pleads guilty to $1 million fraud, June 28, 2013.)
The former owner of Dollars & Sense was granted a total of 15 months credit for pre-sentence custody — Killins has been in prison since December 2012 — and must spend the remaining 33 months of her sentence in jail. The Kitchener, Ont. court also ordered Killins to pay restitution.
“You want people to be able to trust,” says Patricia Moore, crown prosecutor, “but this is an example of how people should carefully watch their investments, check their statements and if they have any concerns stay on top of them.”
In January 2012, the Toronto-based Mutual Fund Dealers Association of Canada (MFDA) revoked Killins’ license and fined her $55,000. (See Investment Executive, MFDA fines, bans advisor, Feb. 3, 2012.)
Killins is also the author of a book, Finding the G Spot: A sassy, sensible, entertaining approach to finance.