William Bischoff, Investment Fraud and Tax Evasion, Maine 2018

CONCORD, N.H. – William Bischoff, 76, of York, Maine, is facing the music after admitting to a years-long investment fraud scheme that ripped off more than two dozen clients and a blatant disregard for federal tax law. The U.S. Attorney’s Office announced Bischoff’s guilty plea today, bringing a measure of closure to a case built on deceit and stolen savings.

From 2009 through September 2017, Bischoff, operating his financial advisory business, peddled lies to investors, falsely promising returns through investments in real estate, structured settlements, high-yield notes, and even a struggling recycling start-up. These weren’t legitimate opportunities; they were a smokescreen. Bischoff guaranteed returns that were wildly unrealistic, luring victims with promises he never intended to keep, sending solicitations via email to expand his reach.

The scale of the fraud is staggering. Bischoff pocketed over $4.2 million from his victims. He didn’t just steal the money, he actively concealed his crimes, shuffling funds between investors in a desperate attempt to maintain the illusion of solvency. Monthly account statements were fabricated, showing fictitious balances to keep the victims from discovering the truth about their vanishing investments. It was a Ponzi scheme dressed up as financial advice.

But the greed didn’t stop there. Bischoff also confessed to failing to file federal income tax returns for the years 2011 through 2015. This wasn’t an oversight; it was a deliberate attempt to avoid paying his fair share, costing the U.S. Treasury a staggering $568,845. He lined his pockets while shirking his civic duty, adding insult to injury for those he defrauded.

Bischoff pleaded guilty to one count of wire fraud and one count of willfully failing to file federal tax returns. Sentencing is scheduled for June 20th, 2018. U.S. Attorney Scott W. Murray minced no words, stating Bischoff “manipulated and misled his victims, depriving them of millions of hard-earned dollars.” The FBI, IRS Criminal Investigation, and the New Hampshire Bureau of Securities Regulation all contributed to the investigation, highlighting the coordinated effort to bring Bischoff to justice.

“This man betrayed the trust of his clients and used their money to fuel his own failing ventures,” said Harold H. Shaw, Special Agent in Charge, FBI Boston Division. “The FBI will continue to aggressively pursue those who exploit others for personal gain.” The New Hampshire Bureau of Securities Regulation acted swiftly to shut down the scheme once uncovered, preventing further losses. The case was prosecuted by Assistant U.S. Attorneys William Morse and Robert Kinsella, who will seek a fitting punishment for Bischoff’s callous crimes.

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