Federal prosecutors say a Santa Barbara County investment advisor has received a more than ten-year jail sentence for stealing millions of dollars from her elderly clients.
Julie Anne Darrah of Santa Maria pleaded guilty to wire fraud.
Prosecutors say that over six years, the 52-year-old woman obtained control of some of her victims' assets and liquidated them. She then used the money on property, luxury cars, and personal expenses.
In some cases, the elderly victims were left so destitute by the fraud scheme that they were unable to pay for their end-of-life care.
A court hearing is still pending to determine what she will pay in restitution.
The investigators also say she sold her investment company to another company under false pretenses, leading to millions of dollars in losses for that firm. The Securities and Exchange Commission filed suit, leading to a $2.4 million court judgment against her.
