Fremont Home Construction Contractor Sentenced to Five Years in Prison for Bank Fraud and Money Laundering
Gregory J. Haanstad, United States Attorney for the Eastern District of Wisconsin, announced that on August 28, 2024, Senior United States District Judge William C. Griesbach sentenced Ross O. Schlomann (age: 45) to five years in federal prison after Schlomann was convicted of bank fraud and money laundering. Schlomann was also ordered to pay $2.1 million in restitution.
”To keep his scheme going, Mr. Schlomann made repeated false statements and ultimately caused over $2 million in losses to individuals looking to build homes,” said U.S. Attorney Haanstad. “I commend the hard work of all involved in seeking justice for the victims in this case.”
“Ross Schlomann not only betrayed the trust of his clients, but he also undermined the very foundation of the construction industry,” said Ramsey E. Covington, Acting Special Agent in Charge, IRS Criminal Investigation, Chicago Field Office. “His actions represent a grave violation of ethical standards and have left lasting scars on those he victimized. IRS Criminal Investigation will continue to work diligently to ensure that those who exploit and defraud others are held accountable.”
In sentencing Schlomann, Judge Griesbach stated that this was a “sophisticated Ponzi scheme” and an “egregious betrayal of trust.” Judge Griesbach stressed that Schlomann victimized young families who were seeking to design and build their dream homes.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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