Wednesday, March 28, 2007

Financial advisor admits stealing from clients

March 28, 2007

A woman convicted of animal cruelty in Botetourt County has pleaded guilty to charges she stole more than one million dollars from clients.

Monica Yates was in federal district court this morning. Yates had faced eight-charges she had taken money from investors during her time as a financial advisor. Federal investigators say she ran a scam paying clients "interest" with the proceeds from new customers.

Today, under a plea agreement, she entered a guilty plea to two of those charges. Yates was convicted last year of animal cruelty after dead puppies were found at her home.

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