A Lansing-area man who worked for an Ann Arbor branch of Chase bank spent some of the $1 million he got from investors on luxury cars, a home and other personal items, according to court records.

Collin Seigle, 27, was indicted Dec. 12 on federal charges of wire fraud, bank fraud and money laundering.

“The charges involve cold and calculated deception, the duping of innocent victims of more than $1 million of their life savings,” federal authorities wrote in court records.

Seigle is accused of filtering money into his own accounts and purchasing a Mercedes, Porsche and a new home near Lansing, according to an affidavit written by Michael T. Garland, a special agent with the FBI.

“Once he got their money, Seigle did not invest it as promised, but instead used it for his personal gain to purchase real estate, luxury vehicles and pay other personal expenses," Garland said.

One of the two victims listed in the affidavit was described as a widow around 80 years old.

In a detention hearing last month, federal authorities described Seigle as a loner with no family contacts, “an elusive guy with elusive ways,” who was “living off the grid” for months last summer while being sought by the FBI.

“He lives in a vacuum, taking no responsibility ... and living completely under the radar,” federal authorities wrote.

After being taken into custody, U.S. Judge Arthur Tarnow let Seigle free on a $10,000 personal recognizance bond until his trial in February.

LIVING LARGE



Seigle was employed by Chase in Ann Arbor from March 2011 to July 2013, though the complaint did not indicate which branch.

Chase did not respond to media inquiries for this story.

Seigle worked as a licensed financial adviser and stockbroker, responsible for marketing and promoting investment products offered by the bank, as well as analyzing and defining investment goals for clients, according to Garland.

In December 2012, Seigle started his own company and began advising his clients to invest in it, including the 80-year-old widow. Seigle had been managing her investments for almost two years when in February 2013 she wrote him a $140,000 check to invest.

“Seigle did not invest (victim’s) money as promised,” Garland said.

Instead, the 27-year-old used the money to buy a $48,000 Mercedes and a $10,500 motorcycle, according to the FBI. Seigle also put down $5,000 on a house in Mason near Lansing.

A second person, identified in the federal complaint as “Vicitm #2”, wrote Seigle a $500,000 check to invest in April 2013. But authorities say he once again didn’t invest the money. Instead, he paid off the house in Mason.

A few months later, Seigle told that same person “the fund was performing well” prompting the victim to invest another $390,000, according to the affidavit, bringing the total amount to $1,030,000.

The victims believed they were investing in Chase-sponsored programs, according to the FBI.

Between February and July in 2013, Seigle wrote himself $28,000 in checks, withdrew $16,500 in cash, bought a $76,000 Porsche and paid $208,000 to renovate his house, according to the affidavit.

ON THE LAM

In July 2013, Chase officials confronted and fired Seigle, though the affidavit isn’t clear on what exactly led to his termination.

The FBI began trying to track Seigle down that same month. He didn’t appear to be living at the house in Mason, where agents left messages. His driver’s license listed an Ann Arbor address, the same address where the new cars were registered, which turned out to be a Mailbox Express post office box.

Federal authorities contend Seigle was on the lam, sleeping on the couches of friends, until being caught for speeding at the end of November.

He was held in custody until Dec. 4 when he was released on a personal recognizance bond after a detention hearing. A grand jury indicted Seigle on the three charges Dec. 12 and he has a pretrial hearing scheduled for Feb. 4 at 11 a.m. and a jury trial set for Feb. 18.

The pretrial hearing is the deadline for any plea agreement.

The wire fraud and bank fraud counts are both punishable by up to 30 years in prison and/or a $1 million fine. The count of money laundering is punishable by up to 10 years in prison and/or a $250,000.

Gina Bayala, spokeswoman for the U.S. Attorney General’s Office, confirmed Seigle has been indicted and released on bond, but said she had no additional comments beyond what was written in the complaint.

Seigle’s federal public defender, Andrew Wise, did not return a phone call.

U.S. Marshals do not release booking pictures of people charged with federal crimes.

John Counts covers crime for The Ann Arbor News. He can be reached at johncounts@mlive.com or you can follow him on Twitter. Find all Washtenaw County crime stories here.