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Ottawa County Resident Charged with $16 Million Wire Fraud Scheme
GRAND RAPIDS, MICHIGAN – A 68-year-old Ottawa County resident has been charged with two felonies in connection with a scheme to defraud the Elsa D. Prince Living Trust of $16,240,000. Robert Allen Haveman, who managed private equity investments for EDP Management Company, allegedly devised a scheme to obtain money belonging to Elsa D. Prince-Broekhuizen and the Elsa D. Prince Living Trust between 1999 and 2015.
As part of the scheme, Haveman allegedly transferred money to his personal bank account and other bank accounts for his personal use and investment activities. He also made material misrepresentations to and concealed material facts from Ms. Prince-Broekhuizen and others, causing false entries to be made in the books and records of EDP.
Haveman is also charged with money laundering in connection with the purchase of vacant land with Lake Michigan frontage in Ottawa County. The maximum sentence for wire fraud is 20 years in prison, and the maximum sentence for money laundering is 10 years in prison.
Haveman has signed a plea agreement in which he agreed to plead guilty to the charges and admitted causing $16,240,000 in losses to the Prince Trust. An arraignment and change of plea will be scheduled with the Court. Until a defendant enters his plea and is found guilty, charges in a felony information are merely accusations, and a defendant is presumed innocent unless and until proven guilty in a court of law.
The Internal Revenue Service Criminal Investigation is investigating this matter, and Assistant U.S. Attorney Christopher O’Connor is prosecuting the case. Haveman is expected to repay the full amount of $16,240,000.
Haveman’s case serves as a reminder of the importance of accountability in financial matters. As a community, we must remain vigilant and report any suspicious activity to the authorities. If you have any information regarding this case, please contact the Internal Revenue Service Criminal Investigation at [insert contact information].
Grimy Times will continue to follow this case and provide updates as more information becomes available.
Key Facts
- State: Michigan
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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