GRAND RAPIDS — A Williamsburg man accused of defrauding elderly clients pleaded guilty in federal court to wire fraud and filing a false income tax return.
William Lowder, 57, a former licensed insurance agent and annuities producer who had an office on West Front Street in Traverse City, defrauded several elderly clients of more than $1 million between 2001 and 2009, federal court records state.
Lowder convinced clients to cash out annuity investments under the pretext that he would reinvest the funds in annuities with higher rates of return. Lowder than deposited the clients’ funds into his personal bank account.
Lowder sent clients false statements of account to conceal the fraud.
The Michigan Office of Financial and Insurance Regulation suspended Lowder’s insurance producer license in March. A criminal investigation into his activities by the Grand Traverse County Sheriff’s Department, the IRS and the FBI followed.
Federal Judge Robert Holmes Bell scheduled Lowder’s sentencing hearing for May 29.
Lowder faces a maximum penalty of 20 years in prison for the wire fraud charge and three years in prison for filing a false tax return. He will also be ordered to pay restitution to his victims.
Archive: Thursday
Man pleads guilty to defrauding elderly
-
-
UPDATE: Golf team crash probe completed
Authorities said both drivers contributed to a devastating, two-vehicle fatal collision that involved the Grayling High School golf team.
Continued ... -
National magazine recognizes TC for boating opportunities
Robert Brown sees only one drawback to being a boating enthusiast in Traverse City. Winter.
Continued ... -
Unless Congress acts, student loan rate may double
Jamie Bowen said a looming interest hike on federal student loans isn’t just bad for students, it ultimately will hurt the country.
Continued ... -
Titans golf team hopes history repeats itself
Traverse City West coach Mike Schultz is hoping history repeats itself when the Division I state golf finals begin Friday at Michigan State’s Forest Akers West.
Continued ... -
Editorial: Good reasons to put off TC road bond
The issue: TC to delay road bond until 2015. Our view: There are good reasons to wait.
Continued ... -
Drink fruits and veggies for energy, nutrients
Juicing has been around a very long time, but in recent years it has come into vogue as a regular diet regime.
Continued ... -
Fracking water falls short
Truckloads of municipal water recently were carted to a Kalkaska County natural gas well when there wasn’t enough groundwater to fracture the bedrock.
Continued ... -
Roast chicken: From picnic lunch to dinner table
Busy times call for the streamlined preparation of wholesome, healthy food — whether you are single or part of a couple or family.
Continued ... -
Letters to the Editor: 06/13/2013
Tax carbon at source; All about the money.
Continued ... -
Norsemen to challenge for Division IV golf title
A rough start. An exhilarating finish. That’s how Seam Lammy’s senior year at Suttons Bay could end this weekend.
Continued ... -
'Then it turned the color of milk'
Something odd happened to Phyllis Senske’s water. The Rapid River Township resident has used well water for decades. About a week ago, she and her husband, Bernard, noticed their pump kept running at night and the water took longer to come out of the faucets.
Continued ... -
Recipe of the Week: 06/13/2013
This week’s recipe comes from Janet Wolf, of Traverse City, who got it from friend Flora Biancalana.
Continued ... -
Forum: Help stop Great Lakes aquatic invasives
Governors and senior staff of the Great Lake states and the premiers of Quebec and Ontario recently met for the first time since 2005 to commit to strengthening the region’s economy and protecting the Great Lakes.
Continued ... -
Near tops Far 6-3 in all-star game
A little rest in between outings usually doesn’t hurt. Just ask Trent McDougall.
Continued ... -
Food trucks in townships?
Food truck owners don’t want to park only in Traverse City. They’re also looking for opportunities to roll into surrounding townships.
Continued ... -
Beach Bums rally in 7th to beat Florence, 9-7
Traverse City scored six runs in the seventh inning to rally for a 9-7 road victory over Florence. The win evens the three-game series at one contest apiece.
Continued ... -
Man suffers severe burns in explosion
Gary Leonard, 63, prepared for a catering event Saturday in a food truck on Pebble Beach Drive in Suttons Bay Township. He told rescuers he lit a propane stove in the truck when the explosion occurred about 9:50 a.m.
Continued ... -
Food in Brief: 06/13/2013
The Grow Benzie Farmers Market will open for the season on Monday, June 17, from 3 to 7 p.m. at 5885 M-115.
Continued ... -
Fish for free at NMC
Young anglers can fish for free this weekend at Northwestern Michigan College’s Great Lakes Campus.
Continued ... -
Amateur may win Michigan Open
It hasn’t been done since 1975. But Tom Werkmeister is on the verge.
Continued ... -
Study finds origins of French winemaking
Scrapings from the bottoms of 2,500-year-old pottery containers have shed new light on the origins of French winemaking.
Continued ... -
Intentional Minimalist: Give a seasonal twist to chop salad
This farm-to-table seasonal twist on the chop salad features a delightful wild leek vinaigrette, thinly sliced raw asparagus, crisp cucumbers, radish micro greens and tangy goat cheese.
Continued ... -
Leelanau ultra run to support library in Ethiopia
Local runners are invited to traverse Leelanau County by night to raise money for a library in Ethiopia.
Continued ... -
Michigan open standings
Michigan Open golf standings after three rounds:
Continued ... -
Community in Brief: 06/13/2013
Roller derby; Clean Water group meets; summer reading programs; and more.
Continued ...
-
UPDATE: Golf team crash probe completed
Inside Kim Kardashian's Premature Labor
Raw: Huge Fire Near Yosemite National Park
RAW: NSA Director Says 50 Plots Foiled
Paige Butcher Scorches on Hawaii Beach
Video: worst way to load cargo onto a plane
Never-before-seen footage of '08 Times Square bomber
Obama: NSA Secret Data Gathering 'Transparent'
WATCH IT: Lil Wayne tramples American flag
Mariah Carey Looks Beautiful in a Tiny Cut-Out Swimsuit
Out of Control Boat Throws Passengers Overboard
See Lindsay Lohan in Rehab
Sofia Vergara Posts Perky Backside Pic in Thong
Gaga Ditches Her Crazy Couture
Caught on Tape: Teacher Accused of Beating Autistic Child
"Stay Classy" Campaign Aims to Curb Binge Drinking
Sesame Street Tackling Tough Topic Parents in Jail
Miss Utah Fumbles Interview Question
Deranged man claims Newark-bound flight was poisoned
Cameron Diaz and Kate Upton Show Off Their Amazing Bikini Bodies
NBA FINALS: Spurs Win Game 5, Lead Series
