A U.S. Attorney for the Western District of Wisconsin recently announced the unsealing of an indictment charging an investment advisor with 21 counts of wire fraud and money laundering.
An investment advisor from Tomahawk, Wisconsin has been charged with 21 fraud-related counts. Last week, John W. Vaudreuil, U.S. Attorney for the Western District of Wisconsin, announced the unsealing of the indictment against Hass that includes 11 counts of money laundering and 10 counts of wire fraud. Included in the indictment was a forfeiture allegation that seeks more than $460,831.27 in criminal proceeds.
About the Allegations
The indictment accuses Hass of running a fraud scheme involving internet pop-up advertisements. Allegedly, Hass made promises to investors that they would see returns from five to 20 percent on the pop-up ad investments. Hass also allegedly promised that, should the investments fail, she would personally give back the original cost of the investment plus seven percent interest.
According to the indictment, not only was there no pop-up ad investment opportunity, but Hass took all her investors’ money and used it to pay for her personal expenses. To cover up her scheme, the indictment accuses Hass of giving false reports to investors, claiming that their payouts were “coming soon” and even that they would receive a bonus as compensation for delays.
Hass is currently on house arrest awaiting her arraignment, which will take place on June 17. Hass faces up to 20 years’ imprisonment for each count if convicted. She also faces fines of $250,000 for each count of wire fraud and $500,000 for each count of money laundering.