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Troy Clinton Van Sickle, 48, Pleads Guilty to Mail Fraud Scheme in Seattle
A former Seattle resident who relocated to Laguna Niguel, California, has pleaded guilty to mail fraud, according to U.S. Attorney Brian T. Moran. Troy Clinton Van Sickle admitted to operating an asset recovery business between 2011 and 2014 to defraud unhappy investors who had lost money with a Bellevue investment company.
Between May and June 2011, Van Sickle represented to the investors that he had a company, Troy C. Van Sickle Consulting and Collections, and that for a fee he could help them recover their lost funds. He falsely claimed that he had helped other investors recover large sums and even entered into a romantic relationship with one of the investors to gain trust.
After moving to California in February 2012, Van Sickle convinced the investors to loan him $75,000, promising to use the money to recover their lost investment and repay the $75,000 in 30 days. In reality, he planned to use the funds for his own purposes, including paying his rent through the end of the year.
One of the investors who loaned Van Sickle funds repeatedly sought the return of the money, leading Van Sickle to send an invoice with false charges explaining how he had used the loaned funds to try to recover the investor’s funds. The scheme resulted in Van Sickle taking in $75,000 from the investors, who lost a total of $250,000.
Under the terms of the plea agreement, Van Sickle has agreed to repay the investors $75,000 and an additional $175,000 in fees he received from the investors. Mail fraud is punishable by up to 20 years in prison and a $250,000 fine.
The case was investigated by the FBI and the Washington State Department of Financial Institutions, with Assistant United States Attorneys Arlen Storm and Andre Penalver prosecuting the case.
Key Facts
- State: Washington
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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