John Jay Kersey

What the public record shows

John Jay Kersey, 65, of Maineville, Ohio, was sentenced to five years (60 months) in federal prison on April 7, 2026, for running an $8.6 million Ponzi scheme over roughly two decades. He pleaded guilty to wire fraud in June 2025. This is a criminal conviction — not an allegation.

The scheme

According to federal prosecutors:

• From approximately 2003 through 2023, Kersey — a licensed financial advisor who spent years at Northwestern Mutual — convinced clients to move their existing investments so he could “invest” them in other funds.
• Instead, he deposited the money into his own accounts, spending it on credit-card bills, insurance premiums, and a down payment on real estate.
• His victims included his own clients, friends, and relatives — people who trusted him precisely because of his professional position.

Why we rate this 1 / 10 — Avoid

Twenty years of stealing from the people who trusted him most, ending in a federal conviction. There is no rehabilitating context for an advisor who used his license as the lure.

The lesson for investors

Kersey’s clients thought moving money at their advisor’s suggestion was routine. It’s exactly why you should independently verify where your money is custodied — real investments sit at a third-party custodian in your name, not in accounts your advisor personally controls.

Verify it yourself

• DOJ press release (Southern District of Ohio) — linked in Sources.
• FINRA BrokerCheck — search his name for the industry record.
• PACER — United States v. Kersey, S.D. Ohio.

Bottom line

Convicted and sentenced. A 20-year betrayal of client trust — avoid, and let his case be the reason you always verify custody.

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