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Fremont Woman Sentenced To 22 Months In Prison For Stealing From Clients’ Investment Accounts

March 9, 2012

SAN FRANCISCO - Tuesday, former Citigroup sales assistant Tamara Lanz Moon was sentenced to 22 months in federal prison for perpetrating a fraud scheme in which she forged clients’ signatures and made unauthorized trades in clients’ accounts in order to steal approximately $800,000, United States Attorney Melinda Haag announced.

According to court filings, Moon, 44, of Fremont, Calif., worked for Citigroup from 1996 until she was fired in 2008. During that time, Moon was registered as a General Securities Representative, and held both a Series 7 and a Series 63 license from the Financial Industry Regulatory Authority. At Citigroup, Moon’s duties included executing trades for brokers and handling much of the paperwork related to certain clients who had investment accounts with Citigroup.

According to court filings, Moon operated a scheme through which she stole approximately $800,000 from more than 20 of Citigroup’s clients. To do so, she falsified account records, forged client signatures, created fake “letters of authorization” to divert client funds and made unauthorized trades in client accounts. Moon used the proceeds of her scheme to pay mortgages, to pay her credit card bills, to pay down her personal home equity line of credit and to invest in real estate.

On June 23, 2011, a federal grand jury in San Francisco indicted Moon on six counts of mail fraud. On Oct. 11, 2011, Moon pleaded guilty to all six counts.

The sentence was handed down by U.S. District Court Judge William H. Alsup. Judge Alsup also sentenced the defendant to a three-year period of supervised release. After she was fired, Moon made restitution of approximately $384,478.19 to Citigroup. As part of her sentence, Judge Alsup ordered Moon to pay the remaining restitution of $416,770.27 to Citigroup. Judge Alsup ordered the defendant to surrender on June 18, 2012, to begin serving her prison sentence.

Doug Sprague and Robin Harris are the Assistant U.S. Attorneys who prosecuted the case with the assistance of Rayneisha Booth. The prosecution is the result of an investigation by the Federal Bureau of Investigation and the Financial Industry Regulatory Authority.

This law enforcement action is part of by President Barack Obama’s Financial Fraud Enforcement Task Force. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.

(Moon indictment )



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