Hancock County News

New Palestine man faces federal charges of securities fraud, wire fraud, and money laundering.

United States Attorney Josh J. Minkler announced Thursday that Bruce Wayne Ford, 47, New Palestine, has been charged with eleven counts of securities fraud, wire fraud, and money laundering.

 

“The financial investors in this case placed their hard earned money into the hands of someone whom they thought they could trust, oftentimes the majority of their life savings,” said Minkler. “Instead, the victim’s money fell into the hands of a thief who cares about no one but himself and his interests. Justice will prevail and hopefully restore some trust back to the victims.”

 

Ford, was arrested at his home Friday, September 11, and had his initial appearance on September 16, in the federal courthouse in Indianapolis. Through his company, Ford Financial and Insurance Services, he devised a scheme to defraud his investors by means of materially false statements and misrepresentations. As alleged in the Complaint, rather than invest his clients’ money as promised, Ford wired or transferred investor funds to Ford’s financial accounts to use for his own personal expenditures.

 

Ford’s illegal scheme to steal his clients’ investment funds was investigated by the Federal Bureau of Investigation, Indiana Secretary of State’s office, and the Greenfield Police Department.

 

“Investment fraud schemes ultimately lead to the loss of innocent victims’ hard-earned money. The victims expected the defendant to protect their future, not use their money to fund his personal lifestyle,” said FBI Indianapolis Special Agent in Charge Paul Keenan. “The FBI will continue to work closely with our partner agencies to investigate these types of crime and ensure criminal activity is identified, investigated, and disrupted.”

 

“Ford was not registered to sell securities with the Secretary of State’s office, a basic requirement,” said Secretary of State Connie Lawson. “If one investor had checked his registration, his entire scheme would have crumbled. I encourage everyone to check their investor’s registration prior to exchanging any money. It’s a simple safeguard that could protect your retirement nest egg.”

 

According to Assistant U.S. Attorney Tiffany J. Preston, who is prosecuting this case for the government, Ford faces up to 25 years’ in federal prison if convicted of the charges.