Thursday, December 3, 2020

Former consultant pleads guilty to fraud, money laundering charges


A former Metro East financial planner pleaded guilty Monday to a 17-count indictment that included charges of wire fraud, money laundering and tax offenses.

Douglas J. Kiffmeyer, 45, of Granite City, marketed himself as a retirement planner, financial consultant and tax advisor.

- Advertisement -

Kiffmeyer then used funds from clients on personal investments and personal expenditures, according to a Monday release from the U.S. Attorney’s Office for the Southern District of Illinois. Little of investor funds were ever used for their intended purposes, prosecutors say.

None of the money Kiffmeyer received was reported as corporate or personal income, according to the Internal Revenue Service.

- Advertisement -

Kiffmeyer made several local TV appearances during his time purporting to be a financial advisor. Someone claiming to be Kiffmeyer compiled clips on YouTube in 2015 of his appearances discussing financial matters.

Kiffmeyer’s sentencing is scheduled for Nov. 10. He was first indicted in 2018.


Subscribe For More

Get our daily notification on the latest financial crimes news around the World

- Affiliate Products -


Latest News

This Week

Hawaii ex-police chief and wife jailed in theft conspiracy scheme

Katherine and Louis Kealoha, once seen as pillars of Hawaii’s law enforcement community, will spend the next several years in federal prison. On Monday morning,...

San Francisco Public Utilities Commission General Manager Harlan Kelly charged with fraud

Harlan Kelly Jr., the General Manager of the San Francisco Public Utilities Commission (SF PUC), is facing federal fraud charges following a reported raid...

Former Pakistani Prime Minister Nawaz Sharif declared fugitive from justice

A top Pakistani court on Wednesday declared the country's ailing former Prime Minister Nawaz Sharif, who lives in exile in London, a fugitive from...

Honduran ex-president Zelaya stopped at airport with $18,000 in cash, denies ownership

Former Honduran president Manuel Zelaya said on Friday that he had been “unjustly” detained at the Central American nation’s Toncontin international airport for carrying...

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    OK No thanks