Posted Tuesday March 9, 2010 4 months, 3 weeks ago
LA CROSSE, Wis. (WTAQ) - A former investment manager in La Crosse pleaded guilty Monday to running off with $850,000 in his clients’ retirement funds. 67-year-old Donald Johnson was convicted on a felony theft charge. He vanished in 1995, after stealing the retirement accounts of 68 investors who include nurses, teachers, and clergy members.
Last October, Johnson returned to La Crosse, and he turned himself into police without saying where he had gone. And he was no more forthcoming in court Monday. Motives will often come out during a sentencing hearing, which in Johnson’s case is set for May 17th. He faces 10 years in prison, but he’ll be eligible for parole after just 2-and-a-half years. The theft charge was filed in 1996, long before legislators adopted the truth in sentencing law.
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