A former financial advisor at First Command Financial Services, an investment advisor, securities brokerage and financial planning firm based in Fort Worth, Texas, that focuses on military service members and federal employees, pled guilty Monday to taking money from the accounts of deceased First Command clients, said U.S. Attorney Sarah R. Saldaña of the Northern District of Texas.
Redonda Russell, 66, of Fort Worth, pleaded guilty to a felony information charging her with one count of wire fraud. Russell worked for First Command for 22 years before leaving the company in the spring of 2013.
According to the U.S. attorney, from April of 2012 to April of 2013, Russell obtained information on 18 First Command clients, eight of whom were deceased. Through the use of an electronic signature, she was able to liquidate the accounts. She took $316,000 from the clients as a result of the scheme, according to the complaint. She is scheduled for sentencing in December.