South Bend Attorney Sentenced to Prison
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A South Bend attorney has been sentenced to more than 10 years in federal prison after pleading guilty to charges of mail fraud, securities fraud and bank fraud.
U.S. Attorney Clifford Johnson says Sven Eric Marshall must also serve two years of supervised release and was ordered to pay more than $1.9 million in restitution to his victims.
Johnson says Marshall practiced law and and provided financial accounting services and sold investment securities from his South Bend business, Trust & Investment Advisory Services of Indiana, from 2003 until 2017. Court documents indicate Marshall used investors money to pay other investors’ returns and for his own personal expenses.
Johnson says the FBI found that Marshall stole more than $730,000 from 16 different investors over the course of 14 years, with many losing their entire life savings. Marshall also embezzled more than $1.3 million from seven clients who hired him to prepare their wills and estates.
The U.S. Attorney’s Office says Marshall never distributed the money, but instead used their money for his own business and personal expenses. The beneficiaries never received the money intended for them, which included several churches, schools, religious communities and charities.