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 sentence of up to 20 years in federal prison. A date for his arraignment has not yet been set.
The indictment claims that between 2021 and 2023, Rogers misrepresented himself as an entrepreneur and investment advisor. He allegedly obtained funds from multiple individuals under false pretenses, promising 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 reportedly used the funds for personal expenses including travel, hotel accommodations, jewelry purchases, apparel shopping, 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 is representing the government in this case.
It is important to note that an indictment is not proof of guilt. Rogers is presumed innocent until proven guilty beyond a reasonable doubt at trial.