Oak Lawn Man Charged With Stealing $700K from Trading Firm

An Oak Lawn man was charged with one count of felony wire fraud when he used his position as the office manager of a Chicago trading firm to divert more than $700,000 in funds from the firm’s co-owners for real estate transactions in Indiana, the FBI announced.

Joseph Tagler, 29, of the 5100 block of West 105th Street, was charged in a federal courtroom in connection with a transfer of $9,550 that occurred in January. FBI agents arrested him at his residence without incident on Thursday.

He appeared before U.S. Magistrate Judge Sheila Finnegan, who released him on a $50,000 bond.

According to the complaint, Tagler, was an office manager and member of the board of directors for Eagle Market Makers when he stole over $700,000 during a 26-month period.

The feds allege that Tagler used the stolen money for personal use, including purchasing a property for himself and his brother-in-law in Walkerton, IN.

The scheme was discovered last month when one of the firm’s co-owners was preparing to file tax returns noticed that the amount he received in dividend payments was less than what was noted on paperwork he received from the company, the FBI said.

Another co-owner directed Tagler to close the account in November 2011, Instead, money from the account was used to fund wire transfers in July  2011 and in March 2013 to purchase two real estate parcels in Indiana

According to the complaint, the co-owner told investigators that his signatures were forged on the wire transfer requests, which he didn’t authorize. The same account was also used to deposit funds in the amounts of approximately $323,2700 in 2012, and approximately $496,000 in 2013.

Tagler withdrew the deposited funds from the account through checks made out to cash. He endorsed the withdrawal checks by signing the co-owner’s name, the FBI said.

If convicted, Tagler faces up to 20 years in prison, and a maximum fine of $250,000. No future court date has been set.