From the U.S. Attorney:
Suburban Chicago Investment Advisor Charged With Swindling Clients
CHICAGO — A suburban Chicago investment advisor has been indicted on federal fraud charges for allegedly swindling clients by soliciting them to invest in nonexistent business opportunities.
RALPH ROGERS III, also known as “Tres Rogers,” 62, of Batavia, Ill., is charged with six counts of wire fraud in an indictment returned Tuesday in U.S. District Court in Chicago.
Each count is punishable by up to 20 years in federal prison. Arraignment in federal court has not yet been scheduled.
According to the indictment, Rogers held himself out as an entrepreneur and investment advisor.
From 2021 to 2023, Rogers fraudulently obtained funds from multiple individuals by falsely promising that he would use his professional connections to invest their money in valuable business opportunities, including
- fiber optic
- cable installation,
- copper piping,
- a physical fitness recovery studio, and
- materials used to manufacture auto parts,
the indictment states.
Instead of investing the funds as he had promised, Rogers used the money for his own personal benefit, including for
- travel,
- hotel rooms,
- jewelry, apparel, and
- gym fees,
he indictment states.
The indictment was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI. The government is represented by Assistant U.S. Attorney Kristin Pinkston.
The public is reminded that an indictment is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.
