William Bischoff, Wire Fraud and Tax Evasion, Maine 2018

William Bischoff, 76, of York, Maine, has pleaded guilty to orchestrating a sprawling investment fraud scheme that stole more than $4.2 million from over two dozen clients, federal prosecutors announced today. Bischoff also admitted to willfully failing to file federal income tax returns from 2011 to 2015, causing a $568,845 loss to the U.S. Treasury.

From 2009 through September 2017, Bischoff used his financial advisory business to prey on trusting investors, falsely promising to funnel their money into real estate ventures, structured legal settlements, high-yield notes, and a start-up recycling business. He guaranteed returns that defied market logic, luring victims with emails full of empty promises and fabricated success stories.

The reality was a hollow shell. Instead of investing client funds, Bischoff ran a classic Ponzi operation—using cash from new victims to pay fake returns to earlier ones. He issued fraudulent monthly statements showing non-existent account balances, all to keep the scam alive. The stolen $4.2 million was funneled to prop up failing personal investments and finance his own lifestyle.

Bischoff pleaded guilty to one count of wire fraud and one count of willfully failing to file federal tax returns. He is scheduled to be sentenced on June 20, 2018. Federal authorities have frozen assets and are working to recover what remains of the stolen funds.

“Mr. Bischoff manipulated and misled his victims, depriving them of millions of hard-earned dollars,” said U.S. Attorney Scott W. Murray. FBI Special Agent in Charge Harold H. Shaw added, “Through a web of lies and deceit, Mr. Bischoff betrayed their trust and used their money to line his own pockets.”

The case was jointly investigated by the Federal Bureau of Investigation, IRS Criminal Investigation, and the New Hampshire Bureau of Securities Regulation. Assistant U.S. Attorneys William Morse and Robert Kinsella handled the prosecution. Special Agent in Charge Joel P. Garland of IRS-CI emphasized the dual damage: “His scheme destroyed financial security and robbed the IRS of critical revenue.”

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