A suburban Chicago investment advisor, Ralph Rogers III, also known as "Tres Rogers," has been indicted on federal fraud charges. The indictment accuses him of swindling clients by soliciting investments in nonexistent business opportunities. Rogers, 62, from Batavia, Illinois, faces six counts of wire fraud following the indictment returned Tuesday in U.S. District Court in Chicago. Each count carries a potential penalty of up to 20 years in federal prison. An arraignment date has not yet been set.
The indictment details that between 2021 and 2023, Rogers misrepresented himself as an entrepreneur and investment advisor to obtain funds from multiple individuals. He allegedly promised to invest their money in valuable business ventures such as fiber optic cable installation, copper piping, a physical fitness recovery studio, and materials for manufacturing auto parts. Instead of fulfilling these promises, Rogers is accused of using the funds for personal expenses including travel, hotel accommodations, jewelry purchases, apparel, and gym fees.
Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the FBI's Chicago Field Office announced the indictment. Assistant U.S. Attorney Kristin Pinkston represents the government in this case.
It is important to note that an indictment is not evidence of guilt; Rogers is presumed innocent until proven guilty at trial where the government must prove his guilt beyond a reasonable doubt.
