Santa Barbara County (Thechieftainspear) – A financial advisor in Santa Barbara County has pleaded guilty to orchestrating a multi-million-dollar fraud scheme that targeted elderly clients, including those in end-of-life care, federal officials announced Tuesday.
Julie Anne Darrah, 52, of Santa Maria, admitted to one count of wire fraud and now faces a potential 20-year prison sentence, according to the Department of Justice (DOJ).
Authorities say Darrah carried out the scheme between November 2016 and July 2023 while operating Vivid Financial Management Inc. (VFM), an investment advisory firm. She built trust with her clients, often reassuring them she would care for them in their later years as if they were family.
Once she gained control of their assets, Darrah allegedly liquidated their investment holdings without their knowledge, transferring the funds into accounts she controlled. In some cases, she persuaded victims to sign documents that granted her legal authority over their finances—whether as trustee, a signatory on bank accounts, or through power of attorney.
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Investigators say she used the stolen $2.25 million to finance a lavish lifestyle, purchasing real estate, luxury vehicles, and funding personal business ventures.
Some victims were left financially devastated, unable to afford critical end-of-life care, officials said.
Darrah also misled a business—referred to in court documents as “Business Victim 1”—into acquiring VFM without disclosing her fraudulent activities. That company reportedly suffered $5.4 million in losses.
“The defendant exploited the trust of her elderly clients and used their life savings as her own,” said Acting U.S. Attorney Joseph McNally. “Seniors should never have to worry whether their money is safe.”
In December 2024, a judge ordered Darrah to pay $2,416,511 in restitution, including interest.
She remains free on a $50,000 bond and is scheduled for sentencing on May 19.
Federal officials urge anyone 60 or older who may be a victim of financial fraud to seek assistance through the National Elder Fraud Hotline at 1-833-372-8311 .
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