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Former Merrill Lynch Boston Investment Advisor Receives An Additional 45 Months For Misappropriation Of Clients' Funds

JANE E. O BRIEN (CRD# 1083732), a former investment advisor from Needham, Massachusetts, was recently sentenced to and additional 45 months in prison, ordered to pay $825,000 in restitution to her victims, and will serve two years of supervised release.

Previously O'Brien had been convicted of defrauding one client out of approximately $250,000 and was sentenced to 33 months in prison. But after the sentenced was imposed the court felt O'Brien had attempted to cover up additional crimes prior to her conviction in 2012. In 2015, it was brought to light that O'Brien defrauded several other clients from 1995 to 2013. O'Brien was a former Merrill Lynch and Citigroup Global Markets investment advisor in Boston.

According to prosecutors, O'Brien, among other schemes, had been misappropriating her clients' funds by having them withdraw money from their bank and brokerage accounts, and giving the money to her personally to invest. O'Brien failed to invest the money and used her clients' funds for her own personal benefit.

Jane O'Brien will serve both sentences consecutively.

According to FINRA's BrokerCheck, Jane O'Brien was previously registered with the following firms:

11/2007 - 12/2011 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD# 7691) - BOSTON, MA

06/1990 - 11/2007 CITIGROUP GLOBAL MARKETS INC. (CRD# 7059) - BOSTON, MA

12/1982 - 06/1990 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD# 7691) - NEW YORK, NY

If you feel you have been defrauded your broker or financial advisor, please contact Soreide Law Group for a free consultation with an attorney at 888-760-6552.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.