A federal court sentenced former Wells Fargo advisor Tyler Michael Rigsbee of Cameron Park, California to two years in prison for stealing money from elderly customers. The US District Court for the Eastern District of California, which includes the Sacramento Wells Fargo bank branch where Rigsbee purportedly stole the seniors' funds, also ordered Rigsbee to pay $158,960 in restitution for aggravated identity theft.
In 2021, Wells Fargo Clearing Services discharged Rigsbee after an internal review indicated that client funds were received in Rigsbee's personal bank account without permission from the clients. FINRA also barred Rigsbee from the securities industry for failing to cooperate with the regulator's investigation into this alleged misconduct.
According to the Department of Justice release, Rigsbee stole the money by using the name and identity associated with the account to fraudulently transfer funds into an account Rigsbee controlled, before again transferring the money into Rigsbee's personal bank account.
Tyler Rigsbee (CRD #6351278) began his career as a broker with Edward Jones of El Dorado Hills, before moving to Wells Fargo in Sacramento in 2016, until his termination in 2021.
If you invested with Wells Fargo ex-broker and investment adviser Tyler Michael Rigsbee of Northern California, or with any registered representative who misappropriated, converted, or stole money from you, resulting in financial losses or other damages, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.