Cameron Park, Calif. financial adviser sentenced in federal court for scamming seniors
Stole over $150,000
A Cameron Park, Calif. financial adviser who pleaded guilty last October to fraud charges was sentenced in U.S. District Court in Sacramento yesterday.
Tyler Rigsbee, 33, of Cameron Park, was sentenced to two years in prison and ordered to pay $158,960 in restitution for committing aggravated identity theft, U.S. Attorney Phillip A. Talbert announced.
Between 2016 and 2021, Rigsbee worked as a FINRA-registered financial advisor at a Wells Fargo branch in Sacramento. Rigsbee targeted elderly bank customers and stole $158,960 from these victims’ accounts.
Rigsbee stole $113,160 from one elderly victim’s account by using the name and identity of the account beneficiary to fraudulently transfer the funds into another account that Rigsbee had set up and controlled in the beneficiary’s name.
He then stole $45,800 from the account of a second elderly victim by transferring funds in incremental amounts into a separate account that Rigsbee had set up and controlled in the victim’s name. Rigsbee then pocketed the money by transferring these funds into his own personal bank account.
Before his scheme ended, Rigsbee attempted to conceal his theft by stealing $16,700 from a third elderly customer’s account and attempting to funnel that money into the second victim’s account to partially replace what he previously stole. However, this transaction was flagged, and the funds were reverted.
