Celebrity financial advisor Jennifer Killins, author of a book on finding your financial "G-Spot," has pleaded guilty to four counts of fraud and running a series of scams that defrauded about 20 victims of over $1.5 million.
Celebrity financial advisor Jennifer Killins, author of a book on finding your financial "G-Spot," has pleaded guilty to four counts of fraud and running a series of scams that defrauded about 20 victims of over $1.5 million.
According to an agreed statement of facts, as reported in the Kitchener-Waterloo Record, Killins took out personal loans in her clients’ names without informing them, redeemed money from clients’ RRSPs without their knowledge, and fraudulently used one victim’s credit card.
Killins sought to cultivate a celebrity image. According to her bio on pro-seminars.com, a site that claims to offer quality, affordable, continuing education, “Jenn is bold, humorous, sassy, and empathetic, as well as a strong advocate for the passion she has for the “G Spot.”
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The Kitchner paper reported allegations that Killins created fake financial statements from major companies, even though the companies had no records of those funds ever being invested.
As is standard for a Ponzi scheme, she made payments to her clients claiming that they were investment returns when the money had actually been taken from other clients. The paper said Killins, owner the Dollars and Sense Financial Group, spent the rest of that money on herself for indulgences that included cosmetic surgery.
As well as being an author, Killins fancied herself a motivational speaker. According to her pro-seminars bio, “Jenn has an unbelievable and creative way of keeping FINANCE simple that leaves you hungry for more. She engages the audience with her conceptual approach and sincere personality.”
Former clients, who have good reasons to doubt her sincerity, may be feeling hungry themselves. Many have had to sell their homes or delay retirement after losing their life savings, the paper reported.
Others are saddled with payments after taking out loans for investments that were never actually made, it added. Some have also had ongoing problems with the Canada Revenue Agency after Killins allegedly filed fraudulent income tax returns for them, or said she had filed returns and actually didn't.
