GREENBELT, Md. (WUSA9) --A federal grand jury indicted a 35-year-old man from Md. for illegally transferring $1.2 million from his client's annuity account.
According to authorities, Travis Wetzel, of Frederick, Md. transferred a total of $1,282,224. His indictment was returned Wednesday and he was arrested Thursday, authorities said.
The United States Attorney for the District of Maryland Rod J. Rosenstein; and Special Agent in Charge Stephen E. Vogt of the Federal Bureau of Investigation announced his indictment Wednesday.
The indictment was announced by United States Attorney for the District of Maryland Rod J. Rosenstein; and Special Agent in Charge Stephen E. Vogt of the Federal Bureau of Investigation.
Authorities said Wetzel was working as an investment advisor for a firm in Rockville, Md. He became the branch operations manager in 2009. Between the time period of July 2010 and September 2012, authorities said, Wetzel stole about $1,282,224 from an annuity account.
According to authorities, Wetzel will get at least 20 years in prison and has to pay a $250,000 fine for wire fraud. In addition, he will get another 10 years in prison for money laundering.
His first appearance in court was Thursday afternoon in the U.S. District Court in Greenbelt. Authorities said he has been let go, however is under the supervision of U.S. Pretrial Services.