Broker Investigation: Kimberly Pine Kitts

Kimberly Pine Kitts (CRD#: 2768200) is formerly registered broker and investment advisor. According to the records on BrokerCheck, she was barred from the industry by FINRA in December of 2017 after she failed to respond to an official request for information.

FINRA had previously launched an investment fraud investigation into Kimberly Pine Kitts because she was terminated from her brokerage firm (Royal Alliance Securities) following allegations that she intentionally misappropriated millions of dollars worth of client funds.

SEC Investment Fraud Charges: Kimberly Pine Kitts

Kimberly Pine Kitts is now facing investment fraud charges from federal regulators. On July 19th, 2018, the Securities and Exchange Commission (SEC) filed a legal complaint against the former Royal Alliance Securities broker. According to the allegations, Ms. Kitts defrauded at least seven different investors out of more than $3 million while she was employed as an investment advisor in Palmer, Massachusetts. She offered services to investors throughout the Cape Cod region.

The SEC has determined that Ms. Kitts engaged in a multi-year scheme to steal client money by forging signatures, making unauthorized transactions, and materially misleading investors by telling them they needed to make wholly fake tax payments. To cover up her fraud, the SEC believes that this broker falsified a wide range of different documents and account records.

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