Have you seen him? Man wanted by FBI could be in Myrtle Beach, officials say
The FBI is searching for an Indiana man who allegedly schemed elderly people through an investment company he started twenty years ago, according to a release.
Sven Eric Marshall, who has been charged with five counts of mail fraud for scamming elderly investors, was last seen in South Bend, Indiana, in January, authorities said. Marshall may own property in the Myrtle Beach area, the release states.
Marshall, 61, owned an investment company named Trust & Advisory Services of Indiana and started recruiting investors in 1998, authorities said. He allegedly promised investors returns of about four to eight percent per year with the option to receive interest payments or to reinvest gains in their account.
Authorities said Marshall provided monthly statements to investors that showed the purported balance of the investments. The release states two of the investors have died since the alleged incidents.
By January 2016, the trust and investment account was “nearly empty,” the release states.
“When investors requested information about their money, Marshall misrepresented the status and balance of the investments,” the release reads. “Marshall did pay money to some investors who asked to withdraw a portion of their investments, even though the Trust & Investment account was almost empty, by transferring money from other unrelated accounts.”
In December 2017, Marshall allegedly stopped communication with investors and closed his office without notifying investors.
Authorities issued a federal warrant for Marshall Dec. 12.
Anyone with information on Marshall’s location should contact their local FBI office or call 1-800-225-5324.
