Wausau business owner charged with embezzlement
Man faces 25 charges
WAUSAU, Wis. — 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 said Fischer never paid off mortgages for eight clients and kept the money for himself.
WAOW-TV reported 21 of the charges against Fischer are felonies. Fischer’s phone number is disconnected. His attorney, Gary McCartan, did not immediately return a call seeking comment.