SOUTH BEND – Sven Eric Marshall, Jr., 64 years old, of South Bend, Indiana, was sentenced by United States District Court Chief Judge Jon E. DeGuilio on his plea of guilty to mail fraud, securities fraud, and bank fraud, announced United States Attorney Clifford D. Johnson.
Marshall was sentenced to 121 months in prison, 2 years of supervised release, and ordered to pay $1,938,193.15 in restitution to the various victims of his offenses.
According to documents in this case, Marshall practiced law as an attorney in South Bend in the area of wills, trusts, estates, and other elder law matters. He also provided financial accounting services and sold investment securities. From approximately 2003 until its collapse in December 2017, Marshall’s investment business, Trust & Investment Advisory Services of Indiana, Inc., defrauded investors by paying their supposed investment returns with other investors’ money. He also used investors’ money for his personal expenses. Marshall stole more than $730,000 from 16 different investors over the course of his scheme. Many of Marshall’s victims invested their entire life savings and suffered substantial financial hardship after they lost their money.
In addition to defrauding investors, Marshall also embezzled more than $1.3 million from seven clients who had hired Marshall to prepare their wills and estates. Marshall did not distribute the victims’ money according to their directives, but instead, used the estates’ money for his own personal and business expenses. The beneficiaries of these wills never received the money the victims wanted to leave them. These beneficiaries included numerous local churches, schools, religious communities, and charitable organizations.
This case was investigated by the Federal Bureau of Investigation. The case was prosecuted by Assistant United States Attorneys Luke N. Reilander and John M. Maciejczyk.