Levi Lindemann, Mail Fraud, Money Laundering, Minnesota 2023

Grimy Times has learned that Levi David Lindemann, a 39-year-old investment advisor, has been indicted for mail fraud and money laundering in Minnesota. According to the indictment, Lindemann stole over $2.5 million from his clients between 2009 and 2014.

Lindemann owned and operated Gershwin Financial, Inc., which did business under the name Alternative Wealth Solutions (AWS). He provided financial planning and asset management services, and sold insurance annuities and investment products to clients in Minnesota and Wisconsin.

Assistant United States Attorney Joseph H. Thompson stated that Lindemann abused the trust of his clients, who entrusted their savings to him based on his promise to invest their money and help them save for retirement. However, Lindemann used the funds to pay personal expenses, convert the investments to cash for his own use, and to make Ponzi-type payments to other investors.

Lindemann also took steps to conceal his fraudulent activity by creating counterfeit secured notes and providing them to investor-clients as proof of their investment. He used some of the investment funds that he stole to make monthly payments to investor-clients, which were intended to appear to be monthly interest payments accruing from legitimate investments.

The case is the result of an investigation conducted by the Minnesota Department of Commerce Fraud Bureau, Criminal Investigation Division of the IRS, and Federal Bureau of Investigation. The indictment charges Lindemann with one count of mail fraud and one count of money laundering.

Lindemann is expected to make an initial appearance before Magistrate Judge Hildy Bowbeer in U.S. District Court in St. Paul, Minnesota. The case is being prosecuted by Assistant United States Attorney Joseph H. Thompson.

Defendant Information:

Levi David Lindemann, 39, Stillwater, Minnesota

Charges: Mail fraud, 1 count; Money laundering, 1 count

Investment stolen: Over $2.5 million

Date: Between 2009 and 2014

Status: Indicted

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