A suburban Chicago investment advisor has been sentenced to six and a half years in federal prison for swindling clients. Ralph Rogers III, 63, of Batavia, Illinois, pleaded guilty in November 2025 to a federal wire fraud charge. From 2021 to 2023, Rogers falsely promised investors that their money would be used for business ventures such as fiber‑optic cable installation, computer‑chip manufacturing for Tesla, and a fitness recovery studio, but instead used the funds for personal expenses and made Ponzi‑style payments to earlier investors. He was on court‑supervised release at the time of the scheme, after serving a prior fraud conviction. U.S. District Judge Sara L. Ellis sentenced Rogers to 78 months in prison and ordered restitution of $238,044.62.
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