Former financial advisor charged with money laundering, fraud

By Lindsey Nair

A former financial advisor has been indicted on federal charges of money laundering, mail fraud and wire fraud after prosecutors say she stole nearly $1.5 million of her customers' money.

Monica Blair Yates, 40, of Daleville is accused in the indictment of scheming to take money from 18 of her customers at CUNA Mutual Life Insurance in Roanoke, where she worked from 2001 until 2006. She then went to work for Merrill Lynch, Pierce, Fenner & Smith Inc. and is also accused of taking money from four of those customers.

Yates has also been in some trouble in Botetourt County, where she pleaded guilty to animal cruelty charges in November 2006 when police found two cats and three dead puppies in her home. Those charges came after authorities had found 25 malnourished dogs in her home and she was convicted and told not to keep any more pets.

Yates has also been charged with forgery, uttering and obtaining money by false pretenses in Botetourt County and is the subject of several civil lawsuits.

http://www.roanoke.com/news/breaking/wb/99855