The Dirksen Courthouse is pictured in Chicago. (Capitol News Illinois)

A Chicago financial advisor allegedly swindled her clients out of nearly $1.5 million by convincing them to invest in her movie production company, knowing she would instead use that money for her own personal benefit.

Helen Grace Caldwell, 58, was charged in Chicago’s federal court Thursday with wire fraud. Her arraignment has not yet been scheduled, but Caldwell was charged through a criminal information, which is often used when a defendant intends to plead guilty.

In addition to working as an advisor for CitiBank, Caldwell also launched Canal Productions LLC, an independent film production company.

According to federal prosecutors, between 2014 and 2023, Caldwell targeted elderly Citi clients, convincing them to hand over hundreds of thousands of dollars by telling them their money would help fund film productions and that they would share in the profits from those movies.

“In fact, as defendant knew, those representations were false,” prosecutors wrote in the information, “because defendant intended to misappropriate, and did misappropriate, those proceeds for personal purposes and because defendant knew that the Client Victims were unlikely to receive any return on their investments.”

Caldwell allegedly persuaded the victims to liquidate their other assets in order to fund her purported movie investments. She is accused of defrauding the victims out of approximately $1,480,500.

Prosecutors alleged three separate victims handed over $800,000, $355,000 and $325,500, respectively, but instead of using those funds on film production, Caldwell transferred the money into her own bank accounts to use for her own “personal purposes.”

In one instance, she allegedly told a film producer that one of her clients had requested a refund. But prosecutors alleged that no refund was ever sought and Caldwell instead intended to keep any money given to her by the producer for herself.

According to a report from Injustice Watch, the Cook County public guardian’s office sued Caldwell and Citi last year on similar allegations. She was then barred by the U.S. Financial Industry Regulatory Authority from working in the securities industry after she refused to testify during its investigation, Injustice Watch reported last August.

A Citi spokesperson did not immediately respond to a request for comment Friday.