Modified: May 23, 2012 11:10am
Erie County District Attorney Frank A. Sedita, III announced today that 48 year old Cynthia Gibbons a/k/a Cynthia Bulinski of Annapolis, Maryland and 47 year old Kellie Will of Centreville, Virginia were both sentenced yesterday morning by County Court Judge Kenneth F. Case for defrauding a number of senior citizens. Bulinski had pleaded guilty on December 13, 2011 to three counts of Attempted Grand Larceny in the Second Degree and one count of Scheme to Defraud in the First Degree. Bulinski admitted that while working as an investment advisor, she defrauded a number of her elderly clients by selling them variable rate annuities and then, without the knowledge of her clients, naming her co-defendant, Kellie Will, as the beneficiary on the annuities. Through this scheme, Bulinski and Will stole approximately $393,440. Bulinski was sentenced by Judge Case to 1-3 years in state prison. Will, who had pleaded guilty on December 13, 2011 to one count of Scheme to Defraud in the First Degree, was sentenced to 30 days in jail and 5 years probation. As conditions of their pleas, Bulinski and Will agreed to pay full restitution to their victims.