Kimberly Kitts Was Sentenced to 87 Months in Prison After Defrauding Investors Out of Millions of Dollars
If you’ve lost money investing with Kimberly Kitts or Royal Alliance Associates, you may have a claim. Contact Sonn Law today by filling out our form to submit a confidential message, or call us anytime at 866–827–3202 to schedule a free consultation.
Kimberly Kitts (CRD#: 2768200) is a previously registered securities broker and investment advisor. From 2004 to 2017, Ms. Kitts was employed at Royal Alliance Securities in Palmer, Massachusetts.
In November of 2017, Kimberly Kitts was terminated from the firm after allegations of misappropriation of investor funds. Soon after, she faced criminal charges. In March of 2019, the U.S. Attorney’s Office for the District of Massachusetts announced that Ms. Kitts was being sentenced to 87 months in prison for defrauding clients out of more than $3 million.
Permanently Barred Broker: Former Royal Alliance Representative Kimberly Kitts
On June 6th, 2019, the Securities and Exchange Commission (SEC) took regulatory action against former Royal Alliance financial advisor Kimberly Kitts. Ms. Kitts has now been permanently barred from serving in the securities industry in any capacity.
Similar to the Department of Justice (DOJ), the SEC found that this financial advisor unlawfully converted more than $3 million in investor funds for her own personal use. Among other things, she cashed clients’ annuity checks, diverted brokerage account holdings, and took money out of clients’ retirement accounts.
Jeffrey R. Sonn is an experienced securities fraud attorney and a dedicated investor rights advocate. If you or your family member suffered investment losses working with Kimberly Kitts, he is available to help. For a free review of your legal case, please contact our legal team right away.