Former Clayton Financial Advisor Pleads Guilty to Fraud

A former senior Wealth Manager for Four Seasons Wealth Management (Four Seasons) in Clayton has admitted his role in stealing a lot of money from clients at more than one investment firm.
Prosecutors said Greg J. Campbell, 34, of Ladue diverted more than $1.4 million from client retirement accounts for personal use, while working as a financial advisor at Merrill Lynch, and $360,000 while at Four Seasons. The money was used to finance his luxury home, cars and lifestyle, according to the U.S. Attorney's Office Eastern District of Missouri.

Campbell began his crimes at Merrill Lynch. From June 2006 until October 2011, Campbell was employed as a financial advisor at the location. 

According to court documents, he managed clients’ Loan Management Accounts (LMAs), which were lines of credit collateralized by securities.

Beginning in September 2007 and continuing until the end of his employment in October 2011, Campbell fraudulently diverted more than $1.4 million from LMAs to his own personal accounts and the accounts of others and for his own personal use. He used the money for a down payment on a personal residence, mortgage payments, lease payments on luxury vehicles, and living expenses.    

In November 2011, Campbell began working as a Senior Wealth Manager for Four Seasons. Between November 2011 and October 2012, Campbell diverted funds from his clients' IRAs to his own personal accounts. 

Court documents show Campbell took various steps to conceal his fraud.  He changed the mailing addresses on clients' accounts, without their knowledge, to an address to which he had access so that clients would not receive account statements. 

"In at least one instance, Campbell falsely stated on distribution documents that he was the client's grandson, when he was not related to the client," according to the news release."

Campbell pleaded guilty to two felony counts of federal wire fraud charges. He faces up to 40 years in prison and fines up to $500,000, according to the U.S. Attorney's Office Eastern District of Missouri.