Former Stockbroker Sentenced To Prison For Theft

Law360, New York (November 9, 2006, 12:00 AM EST) -- A former stockbroker of Royal Alliance Associates, a wholly-owned subsidiary of AIG, was sentenced to more than 14 years in prison Wednesday for bilking millions from his clients.

Judge Kimba W. Wood in the U.S. District Court for the Southern District of New York sentenced Kevin O. Kelley to 170 months in prison Wednesday. He was convicted of defrauding his senior citizen clients of about $4.2 million from 1999 to 2004.

Wood called the crimes egregious, because Kelley “targeted weak people who had money he could...
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