SPRINGFIELD, Ill. (WCIA) — A man from Rochester was recently sentenced to two-and-a-half years in federal prison after pleading guilty to six counts of wire fraud.
At a sentencing hearing on June 9, federal prosecutors presented evidence that Christopher Schaller, 48, used his knowledge of the mortgage industry and the trust placed in him by employer Diamond Residential Mortgage Corporation to defraud others and benefit himself. U.S. District Judge Sue Myerscough found that Schaller was in a position of trust, acting in a supervisory position and utilized sophisticated means to conduct wire fraud.
In addition to the prison sentence, Schaller was ordered to pay more than $61,000 in restitution; almost $33,000 of that will go to the Veterans Administration and the remainder to Diamond. He was also fined $128,000 by the Illinois Department of Financial and Professional Regulation.
“The significant prison sentence imposed by Judge Myerscough shows that white-collar defendants who harm customers and steal from their employers and entities like the Veterans Administration will pay a stiff penalty for their actions,” said Supervisory Assistant U.S. Attorney Doug Quivey.
The FBI assisted in the investigation into Schaller’s case, which the Springfield Field Office’s Special Agent in Charge spoke about.
“The Federal Bureau of Investigation prioritizes investigating sophisticated white collar crime schemes like the one used by Schaller,” said Special Agent in Charge David Nanz. “We are committed to dedicating our investigative resources to target fraud in its many forms to ensure offenders are brought to justice.”
Schaller will spend three years on parole after he is released from prison.