A Batavia, Illinois investment advisor has found himself on the wrong side of the law after federal charges were leveled against him for defrauding clients. Ralph Rogers III, known as "Tres Rogers," is facing six counts of wire fraud for his involvement in what has been described as a deceptive scheme to mislead investors through fake business opportunities.
The 62-year-old was indicted this past Tuesday, with each charge carrying the potential of up to two decades in prison. Rogers is accused of taking his clients' money under the guise of investing in various industries, including fiber optic cable and auto parts manufacturing, between 2021 and 2023. However, the clients' funds were allegedly not used as promised but for Rogers' expenditures, such as travel, hotel stays, and even gym memberships.
In a statement obtained by the U.S. Attorney's Office for the Northern District of Illinois, Acting United States Attorney Morris Pasqual, along with Douglas S. DePodesta, Special Agent-in-Charge of the FBI's Chicago Field Office, announced the indictment. Assistant U.S. Attorney Kristin Pinkston is representing the government in the case.
As is the due process of law, Rogers' indictment is a formal charge and not a verdict of his guilt. The legal principle holds that he remains innocent until proven guilty, and he is entitled to a fair trial where the burden rests on the government to establish his guilt beyond a reasonable doubt. An arraignment date has not been posted yet.
