Former Ameriprise Advisor Receives 88-Month Prison Sentence, $1M Fine

Susan Walker will serve seven years and four months in prison for a scheme involving stolen retirement money used to pay for a “lavish lifestyle.”

On Monday, the U.S. District Court in Minneapolis sentenced former Ameriprise advisor Susan Elizabeth Walker to 88 months in prison for draining more than $1.1 million from at least two-dozen retirement accounts.
Walker, 51, and a resident of Plymouth, was convicted for one count each of mail fraud and tax evasion. She originally pled guilty in October of last year on both counts.
According to her guilty plea and court filings, Walker provided financial planning services through Ameriprise Financial Inc. between October 2008 and March 2013. Additionally, she was a securities agent with the Minnesota Department of Commerce and a financial advisor registered under the Financial Industry Regulatory Authority.
During that time, Walker opened investment brokerage accounts in her name and several of her client’s names without their knowledge. Walker then withdrew money from retirement accounts belonging to at least 24 of her clients and had that money concealed in the brokerage accounts that were under her use.
None of the money obtained through fraud was reported on her tax returns, which resulted in a $325,000 tax loss.

Read More


Please Login to comment.
Statements and opinions expressed in articles, reviews and other materials herein are those of the authors; the editors and publishers.
While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. FundPage, Inc. will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.
The content of any organizations' websites which you link to from are entirely out of the control of FundPage, Inc., and you proceed at your own risk. These links are provided purely for your convenience. They do not imply FundPage, Inc.’s endorsement of, or association with any products, services, content, information or materials offered by or accessible to you at the organization’s site.
All copyright and trademarks accessible via the links from are owned by the respective website owners, or their licensors.
FundPage shall also have the right to remove any contents posted at any time without cause as FundPage determines in its sole discretion.

My Community

My Friends