Friday, December 5, 2014

Wisconsin Attorney Indicted On Charges He Embezzled $2.2 Million From Clients

From the Star Tribune on 12/4/2014:

MILWAUKEE — A federal grand jury has indicted a Milwaukee-area attorney on 33 counts related to fraud and money laundering from clients.

A U.S. attorney said Wednesday that Sarah Laux of Mequon is charged with crimes including 20 counts of money laundering and nine counts of wire fraud. Authorities say she defrauded $2.2 million from four clients between 2010 and 2012, including the heirs of an early 20th century Milwaukee industrial leader.

State insurance regulators revoked Laux's insurance license in fall 2013.

Laux faces up to 30 years in prison, a $1 million fine and five years on supervised release if she is convicted of bank fraud. Mail or wire fraud convictions would carry a penalty of up to 20 years in prison.


Read the whole story here.

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