DES MOINES, Iowa- A Windsor Heights man convicted of scamming Des Moines area investors out of a million dollars, has been sentenced in U.S. Court in Des Moines to eight years in prison.
Sixty-year-old Roger Goodwin was found guilty in August of seven counts of mail fraud. Goodwin owned and operated "Goodwin Network of Advisors" and sold life insurance and annuities.
Authorities say invested his client's money into his mortgage, his remodeling expenses, his car payments, and his travel expenses.
At Goodwin's trial, the government presented evidence that Goodwin owned and operated “Goodwin Network of Advisors, Inc.” which was also referred to as “GoodwinNetwork”, “GN of A”, and “GNA Corp.” and sold life insurance and annuities to individuals in the Des Moines and Houston, Texas areas.
From February 2013 through August 2016, Goodwin advised several of his clients to surrender or cash out existing investments—totaling over$1 million—in order to use those funds to purchase insurance products from him.
Instead of purchasing insurance policies or annuity contracts for these clients as promised, Goodwin deposited the clients’ checks into a bank account associated with Goodwin Network of Advisors– which only Goodwin and his spouse could access. Goodwin kept all or large portions of the funds and used the money for unauthorized purposes that were not for the benefit of the affected clients.
This case was investigated by the Federal Bureau of Investigation and prosecuted by the United States Attorney’s Office for the Southern District of Iowa.
Des Moines area financial advisor indicted for mail fraud
By Sue Danielson