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Wausau Businessman Charged With Embezzlement

Posted Tuesday, July 10, 2012 --- 6:25 a.m.

WAUSAU, Wis. (AP) -- A Wausau business owner is charged with embezzling more than $1 million from mortgage clients.

Fifty-two-year-old Jay Fischer faces 25 charges, including racketeering, embezzlement and tax crimes. Court documents say Fischer owned Valley Title and worked with clients to refinance their mortgages.

Prosecutors say Fischer never paid off mortgages for eight clients and kept the money for himself. WAOW-TV (http://bit.ly/MWmKwh ) reports 21 of the charges against Fischer are felonies.

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Information from: WAOW-TV, http://www.waow.com

Copyright 2012. The Associated Press.


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