Appleton man accused of stealing $1.5 million from victims in investment fraud scheme
An Appleton man is facing federal charges of stealing more than $1.5 million from victims who gave him their money to invest.
Federal prosecutors charged Robert Narvett, 56, with five counts of money laundering, four counts of wire fraud and one count each of bank fraud and aggravated identity theft, according to the U.S. Attorney's Office for the Eastern District of Wisconsin.
Beginning in January 2014, Narvett began taking money from the victims with promises that he would invest their money and they would see significant interest and dividends, according to the U.S. Attorney's Office. However, an investigation by the FBI found Narvett was using the money to fund his own lifestyle and to make "lulling payments" to other victims.
Narvett is also accused on taking out loans in the victims' names without their authorization.
Read more: https://www.postcrescent.com/story/news/2021/03/05/appleton-man-accused-stealing-1-5-million-fraud-scheme/4602342001/
(Appleton Post-Crescent)
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Another shocker, fer sure. 