Richard Thomas Zieske, Wire Fraud, Securities Fraud, Aggravated Identity Theft, Washington 2018

Richard Thomas Zieske, a 48-year-old Renton man, was found guilty of eight federal felonies, including wire fraud, securities fraud, and aggravated identity theft, in a scheme that defrauded victims out of millions of dollars.

According to the U.S. Attorney's Office, Zieske posed as an investment advisor and convinced a victim to allow him to manage more than $95,000 in retirement funds, promising big returns. However, Zieske used the money to purchase a limited edition Harley Davidson motorcycle, pay for liposuction surgery, and finance a luxury SUV.

Zieske also attempted to recruit other investors and convinced the founder of the martial arts studio to invest about $40,000 with him. A brokerage firm closed Zieske's trading account after discovering his prior conviction, and he then opened another account using the identity of another member of the martial arts studio.

The scheme was uncovered by the FBI, who investigated the case. Assistant United States Attorneys Seth Wilkinson and Michael Dion prosecuted the case.

Zieske was previously convicted of federal fraud charges for defrauding members of his church and others out of over $1.2 million. He pleaded guilty to mail fraud, securities fraud, and wire fraud in 2005 and was sentenced to 41 months in prison and ordered to pay more than $1.3 million in restitution.

The Washington Department of Financial Institutions also entered a cease and desist order against Zieske.

Wire fraud is punishable by up to 20 years in prison, and securities fraud is punishable by up to five years in prison. Aggravated identity theft is punishable by two years in prison consecutive to any other sentence imposed on other counts of conviction.

Zieske is scheduled to be sentenced on April 30, 2018, and faces up to 20 years in prison for wire fraud, up to five years for securities fraud, and up to two years for aggravated identity theft.

Source: https://www.justice.gov/usao-wdwa/pr/repeat-investment-fraudster-convicted-wire-fraud-securities-fraud-and-aggravated