Financial adviser admits stealing from elderly clients

3 weeks 21 hours 28 minutes ago Friday, January 31 2020 Jan 31, 2020 Friday, January 31, 2020 7:37:00 PM CST January 31, 2020 in News
By: Associated Press

KANSAS CITY - A financial adviser from Independence, MO has admitted stealing more than $1 million from two elderly clients.

Fifty-nine-year-old Kraig Gier, who operated Security Planning Corporation, pleaded guilty Friday to two counts of wire fraud. Prosecutors say he stole a total of over $1 million from a 96-year-old and an 84-year-old client.

Gier made fraudulent withdrawals from the clients' investment accounts from February 2015 to July 2018 and deposited the money into either his personal or business accounts. He also admitted that he prepared false documents to cover up that he had depleted the clients' accounts.

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