Traverse City man accused of wire fraud, money laundering _ News, Sports, Jobs – The Mining Journal money laundering refers to

Jerry M. Stauffer, 66, was allegedly involved in a fraudulent scheme between 2009 and 2015 in which he told potential investors he could earn substantial profits by trading in fluctuations in foreign currencies, according to a monday press release from U.S. Attorney patrick miles.

Stauffer allegedly used the money given to him for his own purposes, to pay off other investors involved in the ponzi scheme and to finance the purchase of a boat.

The indictment seeks the forfeiture of about $60,000 in funds previously seized by federal agents in connection with the investigation.

If found guilty of wire fraud, stauffer would face up to 20 years in prison. An additional 10 years in prison would apply if he is found guilty of money laundering, which the news release describes as anyone who knowingly engages in a monetary transaction with a financial institution involving fraudulent proceeds over $10,000.Money laundering refers to

Officials with the FBI and IRS traverse city offices are investigating the case. U.S. District judge robert J. Jonker will oversee stauffer’s trial, which has not yet been scheduled.

Ryan jarvi can be reached at 906-228-2500, ext. 242. His email address is rjarvi@miningjournal.Net.

Jerry M. Stauffer, 66, was allegedly involved in a fraudulent scheme between 2009 and 2015 in which he told potential investors he could earn substantial profits by trading in fluctuations in foreign currencies, according to a monday press release from U.S. Attorney patrick miles.

Stauffer allegedly used the money given to him for his own purposes, to pay off other investors involved in the ponzi scheme and to finance the purchase of a boat.

The indictment seeks the forfeiture of about $60,000 in funds previously seized by federal agents in connection with the investigation.

Money laundering refers to

If found guilty of wire fraud, stauffer would face up to 20 years in prison. An additional 10 years in prison would apply if he is found guilty of money laundering, which the news release describes as anyone who knowingly engages in a monetary transaction with a financial institution involving fraudulent proceeds over $10,000.

Officials with the FBI and IRS traverse city offices are investigating the case. U.S. District judge robert J. Jonker will oversee stauffer’s trial, which has not yet been scheduled.

Ryan jarvi can be reached at 906-228-2500, ext. 242. His email address is rjarvi@miningjournal.Net.

Jerry M. Stauffer, 66, was allegedly involved in a fraudulent scheme between 2009 and 2015 in which he told potential investors he could earn substantial profits by trading in fluctuations in foreign currencies, according to a monday press release from U.S.Money laundering refers to attorney patrick miles.

Stauffer allegedly used the money given to him for his own purposes, to pay off other investors involved in the ponzi scheme and to finance the purchase of a boat.

The indictment seeks the forfeiture of about $60,000 in funds previously seized by federal agents in connection with the investigation.

If found guilty of wire fraud, stauffer would face up to 20 years in prison. An additional 10 years in prison would apply if he is found guilty of money laundering, which the news release describes as anyone who knowingly engages in a monetary transaction with a financial institution involving fraudulent proceeds over $10,000.

Officials with the FBI and IRS traverse city offices are investigating the case. U.S. District judge robert J. Jonker will oversee stauffer’s trial, which has not yet been scheduled.

Ryan jarvi can be reached at 906-228-2500, ext. 242.Money laundering refers to his email address is rjarvi@miningjournal.Net.