FOR IMMEDIATE RELEASE
March 23, 2018
Suspect allegedly used stolen funds to pay off personal debts
Jackson, Mich. – Attorney General Bill Schuette today announced the arrest and arraignment of Robert Morley, Jr., 69, of Jackson, on one felony count of conducting a Continuing Criminal Enterprise and 29 felony counts of Embezzlement Over $1,000.
The charges stem from Morley’s alleged conversion of over $700,000 from clients whose investments he was managing.
“Stealing from someone who has entrusted you with their life savings for any reason is beyond the pale,” said Schuette. “I want to thank my Corporate Oversight Team and the Department of Insurance and Financial Services for diligently working to protect Michigan citizens from these kinds of criminals.”
Morley left the state after an arrest warrant was filed. The Leelanau County Sheriff’s Department, Michigan State Police Fugitive Team and TSA assisted special agents of the Attorney General’s Office in locating Morley and he was arrested on March 23, 2018 at Detroit Metro Airport.
Morley was arraigned before Jackson County District Court Magistrate Bishop via video. Bond was set at $500,000 cash/surety. His next court appearance is scheduled for March 30 at 9:30.
Morley worked as a financial advisor in Jackson. He is alleged to have stolen over $700k from now deceased clients. The trustees of the estate have attempted to secure the alleged stolen funds but have been unsuccessful. The Department of Licensing and Regulatory Affairs took action against his license and ultimately revoked his license.
An attorney general investigation into the matter along with the Department of Insurance and Financial Services began shortly after.
A criminal charge is merely an accusation and the defendants are presumed innocent until proven guilty.
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