Former financial advisor sentenced for stealing more than $900,000 from a client to buy a Fox Island home, gold coins, hot tub and more

Olympia - The Washington State Department of Financial Institutions (DFI) announced that on May 12, 2026, John Winslow, a former investment adviser representative in Gig Harbor, was sentenced to three years in prison for stealing more than $900,000 from a widowed client in her 70s.

"It's important for criminals like Mr. Winslow to know Washington State takes defrauding seniors seriously," DFI Director Charlie Clark said. "This is why our dedicated exam and enforcement staff work hard at identifying, preventing, and stopping harm to our state's most vulnerable people. We are pleased to know he will be behind bars."

The case began in 2021 during the COVID-19 lockdown after DFI received a complaint from the client's attorney. A month-long investigation provided enough proof to warrant a surprise in-person examination of Winslow's office by members of the DFI Securities Division. That examination was the beginning of a year-long investigation uncovering a scheme that stole more than $900,000 from his client's life savings and inheritance.

During the examination, Winslow lied, saying his senior client gave him more than $200,000 as a "gift" and that he "borrowed" $300,000 from her to buy his house. The examination team found that to hide his theft, Winslow moved the woman's money through extra layers of transactions. Examiners found that Winslow purchased more than $370,000 worth of gold coins online in multiple transactions and later sold the gold coins to a local brick-and-mortar gold retailer before depositing the proceeds into his own bank accounts. He told examiners he purchased the gold coins for his client and gave them to her. This was also a lie. Winslow used the victim's funds to make a down payment and mortgage payments on a home on Fox Island, to remodel the home and make other purchases, such as a hot tub, new appliances, a vehicle, and a diamond necklace. Within days of DFI's examination, he was fired by his firm, Edward Jones. To settle a lawsuit brought by the victim against Edward Jones, the firm paid her $920,483.

Prosecutor's comments cited in court filings from Winslow's sentencing reinforce the importance of DFI's investigation in stopping this fraud.

"Lies, deceit, and fraud are not things that should be associated with any financial advisor trusted to protect a client's hard-earned money. However, Mr. Winslow chose exactly these things when he callously stole from his client."

"Before each of these transactions, Winslow had the chance to stop and to ponder what he was doing to his victim. But he did not stop. He wanted the gravy train to keep on going. He kept at it even after his withdrawals from (the victim's) accounts triggered an elderly fraud alert. And he meant to bleed (the victim) dry. The only thing that stopped him from taking more of (the victim's) money was getting caught."

DFI's Division of Securities entered a Statement of Charges against Winslow in 2022, and he later agreed to a ban from acting as an adviser in Washington State and paid a fine. The U.S. Securities and Exchange Commission later barred Winslow from the industry on March 12, 2025.

The Internal Revenue Service - Criminal Investigation (IRS-CI) conducted the criminal investigation and the case was later prosecuted by Assistant United States Attorneys. His sentence was handed down by the U.S. District Court in Tacoma.

In addition to prison time, the U.S. District Judge ordered Winslow to pay $1,175,475 in restitution and unpaid taxes on the money he stole. Winslow has agreed to forfeit his Fox Island home to help pay his restitution obligation.

If you are an investor and suspect you may have been defrauded, please file a complaint with DFI's Securities Division. Learn more about investment fraud including warning signs and how to protect yourself on DFI's financial fraud prevention website.

Related Documents

• DFI Winslow Statement of Charges (PDF)
• DFI Winslow Consent Order (PDF)
• DFI Edward Jones Consent Order (PDF)
• SEC Order (PDF)