INDIANAPOLIS (Inside INdiana Business) — A New Palestine man faces several charges after allegedly scheming to steal $1.2 million of his clients’ investment funds. U.S. Attorney Josh Minkler says Bruce Wayne Ford, 47, faces charges of securities fraud, wire fraud and money laundering.
“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 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.”
Ford was taken into custody on Sept. 11 at his home and had his initial court appearance on Sept. 16 at the federal courthouse in Indianapolis. Minkler says Ford ran Ford Financial and Insurance Services and devised a scheme to take his investors’ money by making false statements. The federal Complaint explains Ford wired or transferred the funds to his own financial accounts to use for his personal expenses instead of investing the money as he told his investors he would.
“Ford was not registered to sell securities with the Secretary of State’s office, a basic requirement,” said Secretary of State Connie Lawson. “If one investor had checked his registration, his entire scheme would have crumbled. I encourage everyone to check their investor’s registration prior to exchanging any money. It’s a simple safeguard that could protect your retirement nest egg.”
The FBI, Indiana State Secretary of State’s Office and the Greenfield Police Department conducted the joint investigation. Ford faces up to 25 years in federal prison.