Financial Advisor Indicted for Wire Fraud in Wisconsin
Grimy Times has learned that a registered investment advisor operating in Wisconsin has been charged with two counts of committing wire fraud, violating Title 18, United States Code, Section 1343.
According to the indictment, Robert C. Starnes, the owner of Robert C. Starnes Financial Services, sought investment funds from his clients promising safe returns. Once investors agreed to invest, Starnes would ask for funds which he then deposited into his personal bank account and used to pay his personal expenses.
The indictment alleges that Starnes provided his clients with fabricated account statements showing fake investment returns and convinced them that their assets were invested. When an investor asked to withdraw money from these accounts, Starnes would send them funds to continue the scheme.
Each count of wire fraud carries a maximum of twenty years in prison and up to three years of supervised release. The case was investigated by the Wisconsin Department of Criminal Investigation and the United States Internal Revenue Service. Assistant United States Attorney Carter B. Stewart will prosecute.
The public is cautioned that an indictment or criminal complaint is merely a charge, and the defendant is presumed innocent until and unless proven guilty.
Robert C. Starnes, a registered investment advisor based in Wisconsin, was charged with two counts of wire fraud in January 2024. He faces a potential 20-year prison sentence and up to three years of supervised release if convicted.
Grimy Times will continue to monitor the case and provide updates as more information becomes available.
Defendant Information: Robert C. Starnes, Robert C. Starnes Financial Services
Criminal Charges: Two counts of committing wire fraud, in violation of Title 18, United States Code, Section 1343
City and State: Wisconsin
Date: January 17, 2024
Sentence or Outcome: Potential 20-year prison sentence and up to three years of supervised release
Contact Information: Public Information Officer Kenneth.Gales@usdoj.gov, 414-297-1700
Related Federal Cases
- Jeremy J. Fishnick, Wire Fraud, Cedar Rapids IA, 2023 · Washington
- Stanley P. Phillips Sentenced to Nine Years for Wire Fraud, Dothan … · Alabama
- Sandra Stiner, Wire Fraud Aggravated Identity Theft, WI 2023 · Wisconsin
- Kevin Shibilski, Wire Fraud and Hazardous Waste Violations, WI · Wisconsin
- Crystal Austin, Wire Fraud Conspiracy, MO 2023 · Wisconsin
Key Facts
- State: Wisconsin
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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