Kentucky Fraudster is Sentenced to 10 Years for Investment Fraud
A judge recently sentenced Kentucky resident, William S. Evans, to 10 years in prison for bilking a group of his friends, clients, and acquaintances out of more than $17 million dollars with fraudulent promises of high investment returns. Instead of investing his clients’ monies, Evans used these funds to live a lavish lifestyle. Most of those folks who were defrauded were elderly who took their hard-earned retirement accounts to invest with him based on his false promises of double-digit returns. The crime spree extended from 2014 through 2020 before the house of cards Evans built came crashing down. Evans provided his clients with fictitious statements showing that their investments were performing well, when in reality he was actually spending their money.
This sad tale plays out over and over again in small communities across the country. Starr, Austen & Miller has handled a number of cases like the Kentucky case. As a rule, investors need to be extremely careful in trusting someone with their retirement funds because fraudsters are everywhere. If you are promised higher than market rates of returns, this can be a red flag which means the investor needs to be even more careful. Unfortunately, many elderly clients who have worked their entire lives accumulating their retirement accounts end up being too trusting and are dubbed by false promises of this nature.
If you or a loved one believe you may have been the victim of investment fraud, contact Starr, Austen & Miller today for a no obligation, free consultation to learn more about your rights. Act quickly because the longer you wait the harder it will be to recover your losses.