Wisconsin Business Man Under Investigation for Running A Ponzi Scheme

Posted on November 26th, 2014 at 12:00 PM
Wisconsin Business Man Under Investigation for Running A Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law Offices:

According to the IRS Loren Holzhueter, a 69 year-old business man from Wisconsin, orchestrated a $7.5 million Ponzi scheme.

Holzhueter defrauded money from investors who thought they were placing their money in legitimate investment accounts. However, Holzhueter used the cash to build and operate his companies, and took some of it to run a Ponzi scheme since perhaps prior to 2009.

In one case, a customer wrote checks for more than $100,000, but the money did not go to the investments for which it was intended by the customer.

Holzhueter has denied the allegations of wrongdoing and the investigation is ongoing with no charges yet filed in the matter.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Ponzi Scheme, IRS, Loren Holzhueter

Return to Archive



As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.


August 16, 2022
SEC Warns Financial Advisory Firms Regarding Conflicts of Interest Tied to Compensation

The Securities and Exchange Commission (SEC) has sent a warning to financial advisory firms that they must go above and beyond solely disclosing conflicts of interest related to employee pay programs in order to avoid regulatory scrutiny. 

August 15, 2022
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.