U.S. Attorney's Office
Eastern District of Louisiana
(504) 680-3000
August 21, 2014

Investment Broker Pleads Guilty in Wire Fraud Scheme That Netted More Than $190,000

NEW ORLEANS—U.S. Attorney Kenneth Allen Polite, Jr. announced that AARON ORTLOFF, age 42, of Kenner, Louisiana, plead guilty as charged yesterday before U.S. District Judge Stanwood R. Duval, Jr. to a one-count Bill of Information alleging a wire fraud investment scheme.

According to documents filed in court, ORTLOFF was an investment broker doing business as Ortloff Trading, L.L.C. ORTLOFF used a “gmail” e-mail address to conduct business. Gmail servers are all located outside of the State of Louisiana, which gives federal authorities jurisdiction of interstate electronic transmissions.

From August 2007 through May 2012, ORTLOFF defrauded a victim of $191,000 by e-mailing monthly statements that represented that the victim’s investments were making a profit, when in reality Ortloff was stealing the money.

ORTLOFF faces a maximum of twenty years’ incarceration, a $250,000 fine, restitution and three years’ supervised release. Sentencing before Judge Duval has been scheduled for December 10, 2014.

This case was investigated by agents from the Federal Bureau of Investigation and prosecuted by Assistant United States Attorney Carter K.D. Guice, Jr. of the Fraud Unit.

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