Earlier this week, former Kent County investment advisor Jaime Westenbarger, 46, now residing in Nashville, TN, was sentenced to 30 to 240 months of incarceration by Judge Scott A. Noto in the 17th Circuit Court in Kent County. This sentencing follows one count of Embezzlement $100,000 or More. Michigan Attorney General Dana Nessel announced that Westenbarger received a concurrent sentence of 30 to 180 months for one count of Embezzlement $50,000 or More But Less Than $100,000.
Westenbarger pled guilty as charged in January 2024 under a delayed sentence agreement for several crimes:
- One count of Conducting a Criminal Enterprise
- Two counts of Embezzlement $100,000 or More
- One count of Embezzlement $50,000 or More But Less Than $100,000
- Three counts of Using a Computer to Commit a Crime
Having paid $160,000 in restitution for the charged victims before the end of his delayed sentence period, it was agreed that Westenbarger could be sentenced to 30 months concurrently on charges of Embezzlement $100,000 or More and Embezzlement $50,000 or More But Less Than $100,000. The remaining charges were dismissed. Additionally, Westenbarger has consented that other victims listed in the plea agreement may seek restitution for financial losses they incurred due to uncharged offenses.
"As an investment advisor," said Nessel. "Mr. Westenbarger was entrusted with his clients’ life savings and their aspirations for the future." She added that without the referral from the Michigan Department of Licensing and Regulatory Affairs and diligent efforts by her office's prosecutors securing this sentence and restitution might have been impossible.
Westenbarger had worked as an investment advisor and registered agent for Forest Hills Financial Inc., embezzling $260,000 after promising victims he would invest their money but instead stealing it through online transfers using a computer. The case was referred to Nessel’s office by the Michigan Department of Licensing and Regulatory Affairs.
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