INDIANAPOLIS (WISH) – A Hancock County man has been charged with stealing more than $1 million.
According to the U.S. Department of Justice, 47-year-old Bruce Ford, through his company, Ford Financial and Insurance Services, stole from and defrauded his investors by using “materially false statements and misrepresentations.”
Instead of investing his clients’ money, Ford transferred the $1.2 million into his accounts and used it for personal purposes, according to the department.
“The financial investors in this case placed their hard earned money into the hands of someone whom they thought they could trust, oftentimes the majority of their life savings,” said US District Attorney Josh Minkler. “Instead, the victim’s money fell into the hands of a thief who cares about no one but himself and his interests. Justice will prevail and hopefully restore some trust back to the victims.”
For was arrested on Friday, Sept. 11 at his home.
He faces 11 charges of securities fraud, fraud, wire fraud and money laundering.
Additionally, Secretary of State Connie Lawson said Ford was not registered with the Secretary of State’s office to sell securities.
If convicted, Ford faces up to 25 years in prison.