An Indiana attorney wanted on several charges of mail fraud against elderly victims he allegedly exploited as part of an investment scheme has been arrested after federal authorities found him in Florida, according to the FBI.
Sven Eric Marshall, 61, was arrested in Clearwater, Florida, on Wednesday after a federal warrant for his arrest was issued last month. Marshall has been indicted in the Indiana Northern District Court, South Bend Division, on five counts of mail fraud.
Specifically, the indictment alleges Marshall, acting as an agent of an investment company known as Trust & Advisory Services of Indiana, Inc., began recruiting elderly investors in 1998, promising returns of about 4 to 8 percent annually. However, the company’s coffers were nearly depleted by 2016, with authorities alleging Marshall transferred money to unrelated accounts.
The attorney then closed his office without notice in December 2017 and stopped communicating with his clients. Several investors were in their 70s and 80s, while two are now deceased.
The Associated Press reported that Marshall had been ordered to repay more than $2.5 million to clients before the federal charges were filed.
Meanwhile, Marshall was suspended from the practice of law in Indiana in May 2017 for noncooperation with an Indiana Supreme Court Disciplinary Commission investigation. His discipline was then converted into an indefinite suspension the following October. His status is still listed as suspended on the Indiana Roll of Attorneys.
Marshall’s last known address was in South Bend, but the South Bend Tribune reported in September that he was believed to be in South Carolina. Authorities had been actively searching for Marshall since December.