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Former Indiana man sought in alleged investment scheme targeting seniors caught in Florida

Sven Eric Marshall (photo via FBI)

SOUTH BEND, Ind. (AP) — Authorities say a lawyer who formerly worked in northern Indiana and was charged in December with scamming elderly investors has been arrested in Florida.

The FBI says 61-year-old Sven Eric Marshall was arrested Wednesday in Clearwater. He didn’t respond to earlier civil legal proceedings.

Marshall, formerly of South Bend, earlier was ordered to repay more than $2.5 million to clients. He is facing five counts of mail fraud. The U.S. attorney’s office has said Marshall ran an elder abuse scam through an investment company named Trust & Advisory Services of Indiana Inc.

Prosecutors say that starting in 1998 Marshall recruited elderly investors and promised returns of about 4-8 percent annually, but the company’s account was nearly empty by 2016. He allegedly stopped communicating with investors and closed his office.

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