Ladue investment adviser admits stealing more than $1.8M from clients

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AP

Posted on June 7, 2013 at 3:34 PM

Updated Friday, Jun 7 at 6:25 PM

ST. LOUIS (AP) -- A St. Louis-area investment adviser faces up to 40 years in federal prison now that he's admitted pilfering more than $1.8 million from client accounts.

Greg John Campbell, 34, of Ladue pleaded guilty Friday in federal court in St. Louis to two counts of wire fraud.

Authorities say Campbell was working as a Merrill Lynch financial adviser from mid-2006 through October 2011 when he diverted more than $1.4 million from client accounts to his own. One client was 86 years old with dementia.

After going to work for another wealth-management business, authorities say, Campbell stole an additional $360,000 from clients.

Prosecutors say he used the money for a down payment on a home, mortgage payments, lease payments on luxury vehicles, and living expenses.

Sentencing is set for Sept. 10.

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