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Former Carmel investor sentenced in federal fraud case

INDIANAPOLIS (WISH) –  A former Carmel investor has been sentenced in a federal fraud case.

United States Attorney Josh Minkler announced Friday that Jaime C. Lopez was sentenced to almost 5 years in prison.

He was convicted in a jury trial on 15 counts of wire fraud, one count of securities fraud and one count of money laundering in January 2014.

“Stealing from retirement accounts to fund a lavish lifestyle is immoral as well as illegal,” said Minkler. “Mr. Lopez betrayed the trust of family and close friends by his deceitful actions. He will have nearly five years to think about his crimes in federal prison.”

According to the release, Lopez was a financial advisor who worked from his home in Carmel. He solicited hundreds of thousands of dollars by telling his investors he reinvested their money. He never invested the money and spent it on cars, home mortgage payments and home landscaping.

Special Agent in Charge Stephen Boyd stated, “Today’s sentence sends a clear message that the business practices of Mr. Lopez will not be tolerated and that he will be held accountable. IRS Criminal Investigation and our law enforcement partners will continue to aggressively pursue the illegal business practices of Mr. Lopez and others who defraud and steal from honest, hardworking Americans.”

Lopez will serve three years of supervised release after his sentence and will pay around $300,000 to each of his victims.

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