WICHITA FALLS (KFDX/KJTL) — A Wichita Falls woman and former financial advisor who was involved in public speaking and local nonprofit organizations was terminated after alleged “illegal activity” was discovered by the finance company she worked for.

Dusty Sternadel, former Wichita Falls financial advisor, was terminated on July 29, 2022

Dusty Sternadel, a former financial advisor with Ameriprise Financial in Wichita Falls, was fired on July 29, 2022, according to officials with Ameriprise.

Kathleen McClung, Vice President of Public Relations for Ameriprise, released a statement after several former clients of Sternadel made allegations on social media of fraud and illegal activity.

McClung said Sternadel took steps to cover up illegal activity by acting away from the firm, and that her actions are inconsistent with Ameriprise’s standards.

Over Labor Day weekend, several inquiries were made to the Wichita Falls Police Department regarding whether an investigation into the allegations against Sternadel was being conducted.

WFPD Public Information Officer Sgt. Charlie Eipper said that while he’s unable to comment on ongoing investigations, the way to ensure an investigation begins into an alleged crime committed is to file a report with the police department.

“If someone made a report with her as the suspect of a crime, then an investigation will follow,” Sgt. Eipper said.

McClung said Ameriprise Financial is working with impacted clients and appropriate authorities.

Details regarding the specific illegal activity that Sternadel is alleged to have committed are unavailable at this time. As of Tuesday, September 6, 2022, no criminal charges have been filed against Sternadel.

The full statement from McClung can be found below:

Ms. Sternadel took steps to conceal her illegal activity by circumventing our controls and acting away from the firm. Her actions are wholly inconsistent with our code of conduct and strict compliance standards, and we swiftly terminated her upon discovering what she had done. We are actively working with impacted clients and have been in contact with appropriate authorities.

— Kathleen McClung, Vice President of Public Relations | Ameriprise Financial