Financial advisor pleads guilty to buying property, luxury cars with elderly clients' stolen money

LOS ANGELES - A Santa Maria financial advisor pleaded guilty this week to stealing more than $2 million from her elderly clients to pay for things like property and luxury cars.

Julie Anne Darra pleaded guilty to one count of wire fraud, the Department of Justice announced on Tuesday.

What we know:

Darrah was the president of Vivid Financial Management in Santa Maria from 2015 to 2021. 

According to the plea agreement, Darrah stole about $2.25 million from her elderly clients between November 2016 and July 2023. To do this, officials said Darrah got her clients to sign documents making her the trustee of their trusts, or giving her access to their bank accounts. Darrah would then siphon money from those accounts into other accounts, including some she owned herself.

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Then, she would use the money to buy things like properties and luxury cars, pay off her expenses and run her business, the DOJ said. 

Meanwhile, her victims were in desperate situations. In at least one case, her client only realized that Darrah had stolen her money when she realized she didn't have enough money to pay for end-of-life care.

What they're saying:

"Darrah took advantage of trust victims placed in her — often convincing them she would take care of them in their older years like a daughter, and she used this trust to convince them to sign the documents that she then used to steal money from them," a DOJ press release said.

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"The defendant took advantage of her clients’ trust," said Acting United States Attorney Joseph McNally. "Many of them were elderly and she stole from them using their funds as her own. Our seniors should never have to question whether their money is safe. She will now be held accountable for her actions."

What's next:

Darrah's sentencing hearing is scheduled for May 19. She faces a maximum sentence of 20 years in federal prison. A district judge also ordered her to pay about $2.4 million, including interest.