Former South Bend lawyer accused of 'elder abuse scam' enters another guilty plea

SOUTH BEND — Eric Marshall, the former South Bend attorney accused of defrauding clients by running a Ponzi scheme, pleaded guilty Wednesday to a third fraud charge.

Marshall, 61, appeared in federal court before Magistrate Judge Michael Gotsch and pleaded guilty to bank fraud. This is the second plea agreement in the case. Last month, he pleaded guilty to one count of mail fraud and one count of securities fraud. Marshall was originally charged with six counts of mail fraud, one count of securities fraud and two counts of bank fraud in what the U.S. Attorney called an “elder abuse scam.”

The U.S. Attorney’s Office intends to drop the remaining counts after Marshall’s July 18 sentencing. Between the three counts, he faces up to 70 years in prison and up to $6.2 million in fines. He also could be forced to pay restitution.

On the mail fraud charges, it’s alleged that beginning about March 1998, Marshall recruited investors and promised returns of 4% to 8% per year, according to court documents. He provided monthly statements to investors that showed the purported balances of their investments.

Read more: https://www.southbendtribune.com/news/publicsafety/former-south-bend-lawyer-accused-of-elder-abuse-scam-enters/article_8a310eeb-3d14-512f-8091-3ee2b8090b38.html