Kimberly Kitts, formerly with Royal Alliance Associates, Pleaded Guilty to Criminal Charges
Have you lost money with financial advisor Kimberly Kitts of Orleans, Massachusetts? We are continuing our investigation into allegations made by the Securities and Exchange Commission (SEC) against Kimberly Pine Kitts. In July 2018, the SEC alleged that Kitts, who has an office in Cape Cod, stole over $3 million from customers by forging withdrawal forms and check requests. The SEC further alleges that the scheme affected seven victims, and that Kitts used the money for personal expenses.
In November 2018, the SEC announced that Kitts had pleaded guilty to criminal charges from the same conduct. The SEC alleged that Kitts engaged in this conduct for six years.
Kimberly Kitts was a financial advisor and registered representative of Royal Alliance Associates from 2004 to November 2017. She worked at offices in West Chatham and Orleans, Massachusetts. Kitts was also previously suspended by FINRA for failing to respond to an investigation.
Brokerage firms like Royal Alliance Associates have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Massachusetts. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Kitts, Kimberly SEC Complaint
Click to view: Kitts, Kimberly BrokerCheck 7.20.18
See original article of July 20th here: Investigation of Kimberly Kitts
If you lost money with Kimberly Kitts or Royal Alliance Associates, please CONTACT US at 720-599-3505 for a free evaluation of your case.