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Press Release

Investment Broker, Aaron Ortloff, Pleads Guilty To Wire Fraud Scheme Which Netted Over $190,000

For Immediate Release
U.S. Attorney's Office, Eastern District of Louisiana

U.S. Attorney Kenneth Allen Polite, Jr. announced that AARON ORTLOFF, age 42, of Kenner, Louisiana, plead guilty as charged yesterday before U.S. District Judge Stanwood R. Duval, Jr. to a one-count Bill of Information alleging a wire fraud investment scheme.

According to documents filed in court, ORTLOFF was an investment broker doing business as Ortloff Trading, L.L.C.  ORTLOFF used a “gmail” email address to conduct business. Gmail servers are all located outside of the State of Louisiana, which gives federal authorities jurisdiction of interstate electronic transmissions. 

From August 2007 through May 2012, ORTLOFF defrauded a victim of $191,000 by emailing monthly statements that represented that the victim’s investments were making a profit, when in reality Ortloff was stealing the money. 

ORTLOFF faces a maximum of twenty years incarceration, a $250,000 fine, restitution and three years supervised release. Sentencing before Judge Duval has been scheduled for December 10, 2014.

This case was investigated by agents from the Federal Bureau of Investigation and prosecuted by Assistant United States Attorney Carter K.D. Guice, Jr. of the Fraud Unit.

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Updated November 18, 2014