GREEN BAY, WI (WTAQ-WLUK) – An Appleton man has been indicted in federal court for allegedly defrauding investors of over $1.5 million.
Acting U.S. Attorney Richard Frohling of the Eastern District of Wisconsin says Robert Narvett, 56, is charged with 11 fraud-related counts.
According to the indictment, Narvett defrauded victims by promising to invest their money and return it with significant interest. He instead used the money to fund his lifestyle and make lulling payments to other victims.
The indictment also accuses Narvett of applying for and obtaining loans from financial institutions in his victims’ names without their permission. He is said to have fraudulently gathered over $1.5 million from his victims between 2014 and 2019.
If convicted of wire fraud or money laundering, Narvett faces a maximum 20 years in prison per count. If convicted of bank fraud, he faces a maximum 30-year prison sentence, as well as two years minimum for aggravated identity theft.
The case was investigated by the FBI.
