Woman accused of stealing from investors

Woman accused of stealing from investors

A Tomahawk woman is facing numerous federal charges on accusations that she stole from investors who thought they were putting money into Internet pop-up ads.

Pamela Hass, 63, was indicted on 10 counts of wire fraud and 11 counts of money laundering by a federal grand jury in Madison. The indictment seeks $460,831 in criminal proceeds.

The indictment states that Hass promised returns from an investment in Internet pop-up ads of five to 20 times their original investment. She said that if the investment failed, she would personally guarantee the return of the original investment plus seven percent interest.

Prosecutors said there was no investment, and instead of investing the funds, Hass used the money to pay her personal living expenses. Hass allegedly sent periodic updates by email to her investors, telling them the payout was coming shortly and they should stay patient. Hass gave a variety of excuses for delays in the payout, telling them that because of the delays, they would receive a bonus to compensate them, according to prosecutors.

Hass appeared Wednesday in U.S. District Court in Madison, and was released on a condition of house arrest. She is scheduled to be arraigned on June 17. Hass faces up to 20 years in federal prison on each count, a fine of up to $250,000 on each count of wire fraud, and a fine of up to $500,000 on each count of money laundering.