Barred Broker Gets 8 Years in Prison for $1.9M Ponzi Scheme

Between June 2019 and August 2022, Liddle solicited money from clients at all three of those firms, allegedly to place in low-risk investments, according to the Justice Department.

But Liddle never actually invested the money. He instead kept the clients' money and spent it on his businesses and on personal expenses, including travel. In total, he stole $1.9 million from his clients, according to the Justice Department.

"Liddle maintained a high profile in the investment community, hosting seminars and marketing himself as a successful family man who cared about helping others," according to O'Shea.

Many of his victims were individuals he befriended and some were older investors, according to the Justice Department.

When the Wisconsin Department of Financial Institutions started investigating Liddle, he falsely claimed each of the stolen investments were loans to him, the Justice Department said, adding he went so far as to create false loan documents.

In choosing the 8-year sentence, Peterson said he hoped to provide some measure of justice for the victims, whom he described as "hard-working people who accumulated their wealth over a long period of time." Peterson called Liddle's crimes "monstrous," saying he ruthlessly manipulated and stole from people that he knew well.

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