On Tuesday, Santa Maria's investment advisor pleaded guilty to fraudulent senior clients at the company from millions of dollars, according to the Department of Justice (DOJ).
Julie Dollar, 52, runs a Santa Maria-based investment advisory business called Viviv Financial Management Inc. (VFM).
Prosecutors say they stole around $2.25 million from their clients between November 2016 and July 2023.
In October 2023, the Securities and Exchange Commission filed charges against Darrah and VFM in connection with the scheme. In December 2024, a US district judge ruled that he was obliged to repay $2,416,511 to his client.
Officials at DOJ say they abused the trust that Dollar placed her victim on her, and accused her of believing that the accused would manipulate her older clients and take care of them at their age, like her daughter.
Darrah then uses this trust to persuade the victim to sign a document that gives him the ability to transfer funds from his bank account to other accounts, including her own.
DOJ says Darrah uses the stolen funds to buy real estate for himself, buy luxury cars and run other business ventures.
Some of her victims reportedly remained in a desperate situation, with no money to pay for end-of-life care.
According to prosecutors, Dollar also persuaded the Minnesota-based investment advisory firm to acquire VFM based on false and misleading statements, resulting in the company losing more than $5 million.
A US District Judge established a Dollar sentencing hearing on May 19, 2025.
She faces a maximum statutory sentence of 20 years in federal prison.
