Kimberly Kitts, Formerly Licensed Financial Advisor Kimberly Kitts Pleads Guilty to Charges

Goodman & Nekvasil P.A. May Recover Investor Losses | Kimberly Kitts, Formerly Licensed Financial Advisor Pleads Guilty to Charges

Kimberly Kitts CRD #2768200

Kimberly Kitts Pleads Guilty

On November 19, 2018, Kimberly Kitts, a Cape Cod-area investment adviser, pleaded guilty to criminal charges filed by the U.S. Attorney for the District of Massachusetts. According to the SEC, Kimberly Kitts admitted to investment adviser fraud, wire fraud and aggravated identity theft in connection with stealing over $3 million from Kimberly Kitts’ clients’ investment and retirement accounts.

According to the SEC, from April 2004 through November 2017, Kimberly Kitts was employed as an investment adviser representative at a dually-registered broker-dealer and investment adviser firm, Royal Alliance Associates, Inc. According to the SEC, over the course of several years she engaged in various schemes to defraud Kimberly Kitts’ clients. According to the SEC, these schemes included: (1) forging withdrawal requests and misappropriating clients’ variable annuity funds; (2) forging wire and check requests and misappropriating clients’ brokerage account funds; and (3) misleading a client to withdraw funds from a retirement account and secretly directing those funds to the Defendant’s bank account.

According to the SEC, Kimberly Kitts is currently a defendant in a pending SEC enforcement action filed on July 19, 2018. According to the SEC’s Complaint, Kimberly Kitts forged her clients’ signatures on withdrawal requests to misappropriate money from their variable annuity and investment accounts. According to the SEC, over the course of six years, Kimberly Kitts made 82 unauthorized withdrawals from these accounts, using falsified account statements to conceal her theft. According to the SEC, Kimberly Kitts proceeded to use the stolen $3 million of client funds for personal use.

Investors with Kimberly Kitts May Recover Investment Losses

If you invested with Kimberly Kitts, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors. 

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years. 

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. 

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