CHICAGO — A suburban Chicago investment advisor has been sentenced to six and a half years in federal prison for inducing clients to invest in nonexistent business opportunities.
RALPH ROGERS III, who held himself out as an entrepreneur and investment advisor, fraudulently obtained funds from multiple individuals by falsely promising to invest their money in purported business opportunities.
From 2021 to 2023, Rogers made promises to invest in fiber optic cable installation, computer chip manufacturing for Tesla, and a fitness recovery studio. But instead of investing the funds as promised, Rogers used the money for his own personal benefit.
He spent the money on travel, hotel rooms, jewelry, apparel, and gym fees. Rogers also made Ponzi-type payments to lull earlier investors into thinking their investments were safe.
Rogers carried out his scheme while on court-supervised release following a period of incarceration for a prior federal fraud conviction.
Rogers, also known as “Tres Rogers,” 63, of Batavia, Ill., pleaded guilty in November 2025 to a federal wire fraud charge.
U.S. District Judge Sara L. Ellis imposed the 78-month prison term and ordered Rogers to pay $238,044.62 in restitution to his victims.
The sentence was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI.
Related Federal Cases
- Eric Holub, Tax Withholding Fraud, Cedar Rapids IA, 2023 · Iowa
- Terry L. Gantt, ID Theft and Wire Fraud, Cedar Rapids IA, 2012 · Iowa
- Abel Hernandez-Labra, Passport Fraud, Hampton IA, 2023 · Iowa
- Princess L. Eatmon, Student Loan Wire Fraud, Albany GA, 2023 · Georgia
- Nicole Bogan, Health Care Fraud, Columbus GA, 2013 · Mississippi
Key Facts
- State: Illinois
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
