Jacqueline Stanfill Sentenced To Nine Years In Federal Prison For Fraud And Money Laundering
KNOXVILLE, Tenn. – On April 4, 2016, Jacqueline J. Stanfill, 58, of Knoxville, Tenn., was sentenced by the Honorable Leon Jordan, Senior U.S. District Judge, to serve 108 months in federal prison for wire fraud, mail fraud and money laundering. In January 2016, Stanfill pleaded guilty to these charges that were included in a July 2015 indictment.
In addition to her prison sentence, Stanfill was ordered to pay over $8 million in restitution to the victims of her crimes.
Stanfill was the owner and operator of Stanfill Wealth Management in Knoxville. In her plea agreement on file with the U.S. District Court Clerk, she admitted to claiming to invest her clients’ money with legitimate investment companies. However, Stanfill converted these funds to her own personal use. In order to maintain the confidence of her clients, she created phony documents that had the appearance of account statements and correspondence from Charles Schwab and Co., Inc. She further attempted to maintain the confidence of her clients by making payments either under the guise of returning invested funds and accumulated earnings, and/or by sending funds to the Internal Revenue Service to maintain the illusion that the client’s fictitious investments were tax-deferred.
This investigation was conducted by the Federal Bureau of Investigation and Internal Revenue Service. Assistant U.S. Attorneys Frank Dale and Jennifer Kolman represent the United States.