SEC sues Enterprise Trust Co. for alleged fraud

Full story: Chicago Tribune

The Securities and Exchange Commission on Monday sued Enterprise Trust Co., its president, John Lohmeier, and its vice president, Rebecca Townsend, in federal court in Chicago.
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1 - 20 of 20 Comments Last updated Jun 4, 2014
john

Downers Grove, IL

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#1
Mar 12, 2008
 

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Unjust and unfair to state things as facts if they haven't been proven yet.
Face the music

United States

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#2
Mar 17, 2008
 

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John, sounds to me you may be rather close to the issue.... might want to pack your bags and head for Brazil right about now !! Even when it is proven that you, er sorry these professionals have ripped off the unsuspecting and trusting public, there will be nothing left to claim... I hope you enjoyed the ride (whoever YOU may be) because you'll be behind bars for a looooong time.
tom

Plainfield, IL

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#3
Jun 24, 2008
 

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these crooks will pay
todd

Plainfield, IL

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#4
Jun 24, 2008
 

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our family is suffering a hardship because these thiefs were allowed to prey on honest people. where is the justice in america to allow these people to be under investigation and go on and on to lose more families savings
dave

Chicago, IL

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#5
Aug 30, 2010
 
why isnt this crook in jail yet?
Gina

Columbus, OH

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#6
Jan 17, 2011
 

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I couldn't agree more. My Grandfather and Father developed a successful business off the the sweat of their brow for more than 60 years! Thanks to John and Becky's disgusting lust and worship of money, two generations of my families money is gone in a blink of an eye. As a result, my Grandmother has past away from the intense stress of where she was going to get her next meal and my parents have lost their dream home and will work until they day they die. A far different life than they had saved and planned for.
Where is the justice system in this country! The domino effect of these crimes is far reaching and makes this more than a small white collar crime. It effects us all!! I hope those responsible pay in the next life if the govnernment won't make them pay in this one!
Bennett

United States

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#7
Feb 16, 2011
 

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Filthy Pigs sucking the life and blood out of families futures and security

They are doing more to others right now.

Lowest life people.

Trash.
Dan

Salt Lake City, UT

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#8
Mar 30, 2011
 

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john wrote:
Unjust and unfair to state things as facts if they haven't been proven yet.
You know....we know....the justice system is inconsequential at this point. Charma will follow you till the end.
Martha

Chicago, IL

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#9
Jun 28, 2011
 

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Now that Fitzgerald got Blago, will he go after these two at last?
Bennett

Elmhurst, IL

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#10
Sep 22, 2011
 

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Thieves living free will pay.
Joe

West Chicago, IL

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#11
Jan 11, 2012
 

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John & Becky should be tossed in the slammer to serve some time for the many lives they ruined. When will these two be prosecuted for their criminal behavior??
PJG

Chicago, IL

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#12
Sep 11, 2012
 

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john wrote:
Unjust and unfair to state things as facts if they haven't been proven yet.
They took everything we had and now I even losing my home - abused elder... over $325,000.000 retirement funds add the $358,000.00 home.
PJG

Chicago, IL

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#13
Sep 11, 2012
 

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John: How do you sleep - these people are evil.. near $700,000.00 whiped out - how do you say they did this - when my husband was the sickest and I was working full time, taking care of his mother heart patient and my Mom with dementia.... Yes they prey on people.... pjg
Martha

Chicago, IL

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#14
Oct 4, 2012
 
This is absurd. He plays the victim in a documentary about poverty. http://www.thelinemovie.com/
Bubba

Carol Stream, IL

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#15
Jan 29, 2013
 

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I don't think Becky had anything to do with this. She was simply a divorced woman working for John. I doubt that Becky created the policy to use investor funds to collateralize other fund. Look at this Federal Reserve Release:Press Release

Release Date: October 2, 2008

For immediate release
The Federal Reserve Board on Thursday announced the issuance of a Consent Order of Prohibition against John H. Lohmeier, a former Senior Vice-President, trust officer and institution-affiliated party of Hinsbrook Bank & Trust, Oakbrook, Illinois.

Mr. Lohmeier, without admitting to any allegations, consented to the issuance of the Order based on his alleged participation in unsafe and unsound banking practices, breaches of fiduciary duty and violations of law, including section 502 of the Gramm-Leach-Bliley Act, 15 U.S.C. 6802, the Board of Governors' Regulation P, 12 C.F.R. 216.10, and 18 U.S.C. 656, in connection with Lohmeier's alleged use of bank funds and non-public customer information from a bank computer server to start-up his own non-depository trust company.

A copy of the Order is attached.

Attachment (164 KB PDF)

2008 Enforcement Actions
Next time take the time to see who you are investing in.
Dawn

Buffalo Grove, IL

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#16
Jan 23, 2014
 
And now John has convinced Becky to marry him so that she doesn't have to testify against him.

Law360, Chicago (January 09, 2013, 4:34 PM ET)-- Two former executives of Enterprise
Trust Co. pled not guilty in Illinois federal court Wednesday to charges that they misappropriated more than $8 million in customers' securities by allowing them to be liquidated to meet a margin risk call.

John Lohmeier, the founder and former president of Enterprise Trust, and Rebecca Lohmeier, a former vice president for the trust company, both denied the eight counts of mail fraud and two counts of wire fraud they face in the criminal indictment that came down on Dec. 20. They are each free on $10,000 bonds.

Prosecutors allege that the Lohmeiers fraudulently obtained customer funds and securities, misappropriated them to use as collateral for investment trading that would not have benefited those customers even if it had been profitable, and misrepresented the status of and risk attached to customers' investments.

They allegedly concealed that scheme by creating false and misleading account statements, delaying customers' requests to transfer investments and attempting to obstruct the work of securities regulators and of the court-appointed receiver.

The indictment charges that on Feb. 13, 2008, the defendants caused the misappropriation of more than $8 million in custodial customers' securities by allowing them to be liquidated to meet a margin risk call. The government is seeking forfeiture of that amount.
Attorneys for the Lohmeiers and the government declined to comment on the case after Wednesday's arraignment.

John Lohmeier is represented by Nishay K. Sanan.
Rebecca Lohmeier is represented by Patrick Blegen.

The case is U.S. v. Lohmeier et al., case number 1:12-cr-01005, in the U.S. District Court for the Northern District of Illinois.
go to jail

Chicago, IL

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#17
Mar 10, 2014
 
I am not sure of the relationship, but think John and Rebecca are brother/sister? i don't think John married Rebecca.(Did Townsend revert to Lohmeier in a divorce?) John's wife is Julie, I believe.

Who knows the facts?
go to jail

Chicago, IL

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#18
Mar 10, 2014
 
Does anyone know the status of this case? Is jail time part of the prosecution, or just retribution of the $8m?
Thieves should pay

La Grange, IL

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#19
May 21, 2014
 
John and Becky are sister and brother through theirs parents marriage. They did get married. Julie and John are divorced.
go to jail

Chicago, IL

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#20
Jun 4, 2014
 
So step-brother married step-sister. Dipping the pen in the company ink well, so to speak? No wonder they're in trouble.

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