INDIANAPOLIS — An investment manager who worked in Greenfield’s city government for four years has been indicted on federal charges that he bilked clients out of more than $160,000.
U.S. Attorney Joe Hogsett announced Tuesday evening that Ronald W. Nichter, a member of the Greenfield Board of Works under Mayor Brad DeReamer, is facing eight counts of mail fraud and eight counts of aggravated identify theft.
According to a news release from Hogsett’s office, Nichter, 58, of Pendleton, allegedly engaged in a scheme to defraud his clients of their funds by withdrawing money from their accounts for his personal use.
“The victims in this case worked hard for their money, and they expected the defendant to work equally hard to protect it,” Hogsett said in the news release. “Instead, this alleged scheme violated their trust and resulted in tens of thousands of dollars in losses to their investment accounts.”
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