While investment opportunities have the potential to offer favorable returns, there is also a certain amount of risk involved with similar endeavors. Individuals who lose money on an investment may wish to find someone else to blame, especially if they sought out another party to help them make decisions. A Wisconsin man is reportedly facing numerous fraud charges following an investigation into allegations made by various alleged investors.
Allegations of fraud
According to reports, the man is accused of taking money from investors over a period of just over seven years. Authorities assert that he accepted funds from various parties after offering promises of significant returns on their investments. He also stands accused of using their information to take out loans in their names without seeking their approval.
Authorities claim the man has obtained more than $1.5 million using fraudulent means throughout this seven-year period. He is currently facing multiple charges in relation to the investigation, including wire fraud and money laundering charges. If convicted, he could be facing significant financial penalties and an extended prison sentence.
Knowing one’s options
Facing fraud charges can be a harrowing process that could leave a person in search of guidance on how best to approach the situation. When facing a similar situation, a person in Wisconsin could benefit from seeking the advice on an attorney as soon as possible for advice on all his or her available options and on what to expect from the process. An attorney can work toward protecting a client’s legal rights and assist him or her in making informed decisions while preparing to seek the best outcome possible during court proceedings.