GRAND RAPIDS, Mich. – An Ottawa County man has pleaded guilty to two felonies in connection with a scheme to defraud the Elsa D. Prince Living Trust over 16 years.
Robert Haveman, 68, pleaded guilty to wire fraud and money laundering for the activities that ranged from 1999 to 2015.
The federal charges allege that Haveman transferred money out of the trust to his personal bank account for his personal use and investments. He allegedly made false entries into the books are records to disguise the thefts. Haveman was an employee of EDP Management and managed the private equity investments for the company.
Haveman was also charged with money laundering in connection with the purchase of vacant land on Lake Michigan in Ottawa County.
Haveman faces a maximum sentence of 20 years in prison for the fraud and ten years for money laundering.
According to the U.S. Attorney’s Office, Haveman admitted causing over $16 million in losses to the Prince Trust in the plea deal.
