A 56-year-old Fox Island man has been indicted by a federal grand jury on charges related to a years-long scheme to defraud a former client of more than $920,000, the U.S. Attorney’s Office for the Western District of Washington announced Monday.
John S. Winslow, a former financial advisor with a national firm, faces multiple charges, including four counts of wire fraud, two counts of mail fraud, four counts of money laundering, and four counts of making and subscribing a false tax return.
According to the office, Winslow exploited his position of trust to steal the life savings and inheritance of a widow in her 70s. Winslow transferred funds from the victim’s brokerage accounts to her external bank account to avoid oversight from his firm. He then moved the funds into his own accounts through multiple transactions, all while guiding the victim through phone calls with the bank and instructing her on what to say.
Winslow promised higher interest rates for transferring the funds but used them for personal gain instead, including upgrading his lifestyle with purchases like an island home, a new car, a hot tub, and a diamond necklace. To conceal his actions, Winslow allegedly purchased gold coins online, sold them to a local dealer, and deposited the proceeds.
Winslow also failed to report the stolen funds on his tax returns, resulting in a tax loss of about $254,000. He pleaded not guilty during his arraignment on March 31.
“Mr. Winslow took advantage of the victim’s trust to steal from her bank and brokerage accounts,” said Acting U.S. Attorney Teal Luthy Miller. “He used the victim’s funds to upgrade his lifestyle, committing fraud at multiple levels.”
