Another Investment Fraud Scheme and Failure to File Federal Tax Returns


Investment Fraud Scheme

William Bischoff, of York, Maine, receives a 48 month prison sentence. The sentence is punishment for operating a multi-million dollar investment fraud scheme and failing to file federal income tax returns. From 2009 through 2017, Bischoff defrauds more than two dozen of his financial advisory clients. He commits the grandiose fraud through several offerings. For example, Bischoff falsely promises to invest client money in real estate, structured legal settlements, high yield notes, and a start-up recycling business. Furthermore, he guarantees investment returns that far exceed traditional market norms.

Through his scheme, Bischoff defrauds investors of more than $5.5 million. As with most investment schemes, Bischoff uses money he steals from one investor, to pay another. Even worst, he also provides sham monthly account for the fictitious investment accounts.

In an equally reckless move, Bischoff also fails to file federal tax returns for the four-year period, 2011 to 2015. As a result, the U.S. Treasury loses more than a half-million dollars in tax revenue.

Signup for the USA Herald exclusive Newsletter

Previous articleBiopharmaceutical Executive Receives Prison Sentence For Insider Trading
Next articleTrump and Putin to Hold Summit
From the concrete jungle of Wall Street as an Investment Adviser to the narco-infested jungles of Colombia, as a U.S. Marine Corps Lieutenant Colonel. His first hand knowledge of both finance and crime present a unique perspective on the topic of financial crimes. Although he may not be the "most interesting man alive," his friends assure him he's in the top 10. He delivers provocative written insights on controversial topics, sips single malt scotch with a smile, and fancies a good cigar.