Newton Man Pleads Guilty To Wire Fraud, Filing False Tax Return

NEWTON, MA — A Newton accountant admitted to stealing $1.6 million from an elderly client and a former client’s estate and pleaded guilty Thursday in federal court in Boston to charges of wire fraud and filing a false tax return.

Jeffrey Kellem, 49, pleaded guilty to four counts of wire fraud and one count of filing a false tax return. Kellem was charged by Information in August 2019. His sentencing is scheduled for Dec. 5.

Kellem used his position as an accountant for an elderly client, and the estate of a deceased client, to steal more than approximately $1.6 million for his own use. He transferred his clients’ funds, without their authorization, to bank accounts he opened and controlled. He also failed to report more than $500,000 in income from the funds he took on his tax returns. As a result, in 2017, Kellem avoided paying taxes totaling more than $150,000.

He faces 20 years in prison, three years of supervised release, a fine of $250,000 and forfeiture for the wire fraud charge. The charge of filing a false tax return carries a sentence of up to three years in prison, one year of supervised release, and a fine of $250,000.

According to his social media Kellem ran his own business, Concierge Accounting and was the head basketball coach at Gann Academy in Waltham.

Patch reporter Jenna Fisher can be reached at Jenna.Fisher@patch.com or by calling 617-942-0474. Follow her on Twitter and Instagram (@ReporterJenna).