KALAMAZOO, Mich. (WOOD) - The U.S. Marshals Service will auction off thousands of items forfeited to the government by a Kalamazoo investment adviser who stole nearly $5 million from clients.
Joseph Fabian pleaded guilty in June 2011 to federal wire fraud charges. Federal authorities say he stole $4.8 million from 30 clients between 2005 and 2010. He took money from clients, according to the government, put it in shell corporations and then used it to buy salvage, heavy machinery and military surplus that he meant to resell for a profit.
He was ordered to pay restitution to the tune of more than $3.8 million. Additionally, he was sentenced to more than seven years behind bars, which he is serving in an Indiana federal prison.
Among the items up for auction are vehicles, tractors, farm equipment and building supplies.
A public preview will be held Thursday and Friday from 8:30 a.m. to 5 p.m. at two locations: 12269 31st St. in Gobles and 350 Blaine St. in Kalamazoo.
Items can also be seen at the website for Rick Levin & Associates, Inc. Auctions, where buyers can register to bid.
The online auction starts May 24 and ends May 31.
Rick Levin Auctions website and complete inventory list
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